When the speculation about Everton's interest in bringing Jack Grealish to Merseyside first came about toward the end of May, I noted that the Toffees should be interested, but that financials had to be taken into account.
Frankly, it felt like a pipe dream at the time, something that would be too costly for Everton to even consider. And once Manchester City made it clear that any loan move would need to see the England international's massive wage bill completely covered, it felt like the death knoll for the deal.
And yet, this morning, David Ornstein of The Athletic dropped this bombshell:
🚨 EXCL: Jack Grealish transfer from Manchester City to Everton includes option to buy at end of loan. #EFC can turn move permanent for ~£50m fee in summer 2026 as part of agreement with #MCFC - in process of being finalised + medical today @TheAthleticFC https://t.co/zb7LTkptW0
— David Ornstein (@David_Ornstein) August 11, 2025
There's a lot to unpack here and still a great deal that isn't known, but whatever those items may be, one thing is certain: Jack Grealish is likely to be confirmed as an Everton player for the 2025/26 season within the next day or so.
The first question, of course, is whether City caved on their demands to have his wages covered, something that Ornstein doesn't indicate here nor in the subsequent article on The Athletic's site, and outside of speculation, there will be know way of knowing.
The other elephant in the announcement is the fairly massive option fee attached, although it seems a number that Everton are likely to pay one way or the other, especially since other reports indicate that Grealish himself will have a say in whether it could be exercised.
But the outcome feels likely to work out in one of two ways. Either the spell with Everton is a return to form, which means Grealish may set his sights on forcing his way back into City's side or to another "top" club. Or the loan isn't successful, and Everton send him back to Manchester with one year left on his albatross of a contract.
Is there a third outcome where Grealish plays well, enjoys his time on Merseyside, and wants to stay? Sure, but Everton played hardball on the relatively low obligation number for Charly Alcaraz, so there's no reason to believe they'll just pay City £50 million without negotiations.
There will be more time to unpack the fit later, and the value of the move has already been dissected before the deal was reported as done, but for now, it looks like Jack Grealish will be officially an Everton player very soon.