That led to the Toffees hierarchy handing Frank Lampard the freedom to re-invest the money generated from the sale of Richarlison to Tottenham Hotspur.
Although Lampard has been willing to use younger players in his first-team squad, the Englishman inevitably had to find suitable solutions for many of the club's younger crop ahead of potentially challenging for a first-team role in 2023-24.
Here, Sports Mole takes a look at how Everton's academy graduates and emerging prospects are faring on their temporary stays away from Goodison Park.
WHICH PLAYERS ARE FINDING IT BENEFICIAL?
A few eyebrows were raised when Jarrad Branthwaite made the loan switch to PSV Eindhoven in July, but the defender has made two starts and four substitute outings for the Dutch giants.
Branthwaite's standout contribution has come at the other end of the pitch, the Englishman getting on the scoresheet during the 4-3 triumph over rivals Feyenoord.
There was a scenario where Ellis Simms could have remained as third choice in the senior squad at Everton this season, but the 21-year-old has instead continued his development at Sunderland.
Simms, who ended 2021-22 at Hearts, has chipped in with three goals from eight starts, taking on responsibility as first choice at the Stadium of Light due to the injury to Ross Stewart.
Niels Nkounkou is receiving some much-needed game time at Cardiff City, already making three starts and two outings off the substitutes' bench since August 27.
In League One, Ryan Astley has made seven starts for Accrington Stanley, while Lewis Warrington is already established in the Fleetwood Town midfield, making two starts and one substitute appearance.
WHICH PLAYERS NEED MORE TIME?
Although he is experiencing his first taste of Championship football, Nathan Broadhead will be disappointed to have been limited to seven outings as a replacement for Wigan Athletic.
Still, with one goal - a crucial one at that against Birmingham City - coming from his game time, the Welshman has already proven to be an asset to the Latics.
Lewis Dobbin is an important squad member at Derby County, making three starts and four substitute outings in League One as well as providing an important assist during the win over Peterborough United.
Defender Lewis Gibson has two starts and two outings from the bench for Bristol Rovers, midfielder Tyler Onyango receiving the same at Burton Albion.
Jean-Philippe Gbamin probably does not have a future at Everton, but the Ivory Coast international has made three starts and two substitute outings for Trabzonspor, a welcome boost after his issues with injury.
WHO MAY NEED TO RETURN TO GOODISON PARK IN JANUARY?
Young goalkeeper Harry Tyrer has eight appearances to his name at National League North side Chester City, keeping two clean sheets in the process.
Everton may be left with a decision to either leave the 20-year-old in the North-West or attempt to move him to a National League club.