Everton have found themselves struggling once again in the Premier League this season, and a new update has emerged from a reliable source on just how deep the club's troubles may have become.

What's the latest?

According to The Athletic's Everton reporter Patrick Boyland, the Merseyside club will not be able to financially compete with their relegation rivals during the January transfer window due to financial constraints.

As per the report, Boyland reveals that whilst the likes of Southampton, Leeds United and Wolverhampton Wanderers strengthen their squads with permanent deals this month, Everton will need to find loan deals, arrange options to buy or strike deals with clubs willing to part ways with their players on instalment plans.

Aston Villa have already rejected Everton's loan advances for Danny Ings, with Boyland claiming that Kevin Thelwell and Frank Lampard have inherited a mess and are expected to turn water into wine in the transfer market.

It's worrying for Lampard

There is no doubt that the financial concerns plaguing Everton will be taking their toll on Lampard and have put him in a position where he has one hand behind his back whilst trying to save the club from its first relegation since the Premier League was established in 1992.

The Toffees are currently 18th in the Premier League after collecting just 15 points from a possible 54 over their first 18 matches, and the game against Southampton at Goodison Park this weekend could well be crucial to the club's future, as the manager could reportedly lose his job if the result isn't positive.

Indeed, Lampard was afforded a healthy budget during the summer when he signed eight new players including Idrissa Gueye, Amadou Onana, Dwight McNeil and James Garner. However, the injury problems which have plagued the club over the last 18 months have been a huge factor in their continued downfall.

Last season, Everton had the worst injury record in the entire Premier League and this term are on course to claim the damning statistic again, as they have suffered severe injuries again to key players.  Dominic Calvert-Lewin, Alex Iwobi, Yerry Mina, Nathan Patterson, Abdoulaye Doucoure and even Jordan Pickford have all sat on the sidelines at some point this season.

Lampard must now hope his team can fight for their top-flight status once again by claiming all three points in front of the home crowd this weekend, as it could be a pivotal game in their pursuit for a comfortable finish at the end of the season. Defeat would be unimaginable and could yet again change the outlook at Everton, especially if the hierarchy sack the manager.

It is an uncertain and unstable time at Goodison Park, but with 20 leagues matches left to play, there is still plenty of time for Everton to come out at the other side unscathed.

However, the scale of transfer activity conducted this month could be pivotal in determining the side of the dotted line on which Lampard's team finish at the end of May, and Boyland's report certainly doesn't bode too well for the Toffees.