Everton are in desperate need to freshen up their squad after a difficult relegation battle in the Premier League last season, and a new update has now emerged from a reliable source detailing the summer transfer plans at Goodison Park.

What's the latest?

The Athletic's Everton reporter Patrick Boyland has given an insight as to what the club are targeting to improve and how they will go about reinvesting into the squad this summer.

In an article for The Athletic, he confirmed that the Toffees have now released Cenk Tosun, Fabian Delph and Gylfi Sigurdsson upon the expiry of their contracts, and Jonjoe Kenny has also joined the trio in leaving Goodison Park after refusing a new deal at the club.

Boyland added that Everton will look to reduce their costs wherever possible to improve Frank Lampard's scope to reinvest and rebuild the squad, and any new signings will need to not only be more cost-effective but offer a regular contribution to the team.

Supporters will love it

Everton have earned a reputation for reckless spending and bad transfer decisions ever since Farhad Moshiri arrived at the club in 2016, so supporters will love hearing that the Toffees are finally going to start spending smarter and investing in players who can make a direct impact more often.

The club is already on the cusp of signing James Tarkowski on a free transfer this summer, so that will be a shrewd piece of business for Everton as they attempt to rebuild and improve their squad ahead of next season.

Lampard may need to replace Richarlison, who has been linked with a move to Tottenham in a deal rumoured to be worth £51m. Although losing the Brazilian would be a huge dent in the goal contributions that he offers to Everton, the money earned from the transfer would certainly give the Toffees manager something to work with in replacing him this summer.

Everton are also linked with a move for Conor Gallagher this summer, who has been touted to join Goodison Park on loan. Chelsea would likely be unwilling to sell the player as they see him as a future starter in their team, but again it would be a major coup for Moshiri to immediately improve the side ahead of next season.

Ultimately, if Everton can look to the free transfer market and acquire loan deals, along with selling players who are not up to scratch or looking to move on, they could be in good stead to have a decent transfer window and compete a bit better in the Premier League next season should they identify the right players.

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