Millwall head coach backs prudent approach as financial spending under scrutiny after Everton and Forest alleged breaches

BY RICHARD CAWLEY
richard@slpmedia.co.uk

Joe Edwards has backed Millwall’s prudent approach in transfer windows after witnessing first-hand the repercussions of Everton’s historic big-spending.

Both the Toffees and Nottingham Forest face alleged breaches of the Premier League’s financial rules with the former already deducted 10 points for a previous charge.

Under profit and sustainability rules (PSR) Championship clubs are permitted to lose £39million over a three-year cycle – £105m in the top-flight – and exceeding that brings the risk of sanctions.

Millwall’s policy has always been to stay the right side of the rules but they have still regularly outperformed their budget since promotion to the Championship.

When Luton were promoted to the Premier League via the play-offs in May there was plenty of plaudits for a club that had punched above their weight and landed a knockout blow on more heavily-resourced rivals.

Gary Rowett, when he was Millwall boss, talked about how the two clubs had a similar approach to attacking the top six. But Luton’s financial statement for the financial year ending in June 2023 shows they spent £27.6m on wages – 150 per cent of their revenue – and posted an operating loss of £21m.

Millwall’s transfer record stood at £800,000 for Paul Goddard – a deal done in 1989 – until they signed Tom Bradshaw from Barnsley in 2018, with the terms of that transaction guaranteed to be a £1m outlay.

Since then the Lions have spent seven figures on players on a fairly regular basis – Casper De Norre, Zian Flemming and Matija Sarkic spring to mind – as well as handing out big wages, by their standards, to the likes of Jed Wallace.

Millwall head coach Edwards is in his first transfer window since replacing Rowett and has previously been in senior coaching roles at both Chelsea and Everton.

“I have been at the club where money has been spent left, right and centre – and you don’t always get it right – as in Chelsea,” Edwards told the South London Press.

“But this time last year I was at Everton (as assistant manager to Frank Lampard) and we were in and around the relegation zone, so clearly you need to take action. And when I left, which ended up being towards the end of January, we hadn’t signed one player.

“The reason we hadn’t was because of the financial situation which had occurred over a number of years of getting it wrong, which Everton are feeling even more so now. I have lived first-hand the issues you get when you have overspent and it’s not done properly.

“Credit to the club that there is no danger of stuff like that here. You just have to find the right balance so that come February, when we’re really attacking the second half of the season, we’re comfortable that we have a strong enough squad to be what we want to be.”

Edwards talked after Saturday’s loss to Middlesbrough at The Den about his side needing “help” in terms of January additions with the likes of Shaun Hutchinson, Ryan Leonard, Aidomo Emakhu and Tom Bradshaw ruled out.

Academy products Romain Esse, Kamarl Grant, Sha’mar Lawson and Niino Adom-Malaki, loaned to Sutton United earlier this week, were on his bench.

“We need more depth in our squad,” said Edwards, speaking before the addition of Tottenham defender Japhet Tanganga on loan. “We’re in a window where you get the opportunity to do that, but it is a difficult window. You look at some other clubs doing bits, but everyone always gets excited around deadline day for a reason.

“Typically, a lot of activity happens around the final week because with players we might have approached, you will get clubs holding out as they won’t let them out the door until they get one in to replace them first.

“There has been a lot of work going on. We’re still in a position where I hope that when I’m sitting with you and talking in a couple of weeks from now, there is definitely at least one or two fresh faces in our squad.”