Everton owner Farhad Moshiri has apologised to the club's fans for mistakes made during a "challenging" season that nearly led to relegation.
That is despite is despite the club spending more than £500m on new players since Moshiri's arrival in 2016.
"It has not been good enough and we need to do better," Moshiri wrote in an open letter to Everton supporters.
"Mistakes have been made and for that I want to apologise to all of you."
Moshiri and chairman Bill Kenwright have faced criticism from fans this season for the way they run the club, which included the unpopular appointment of former Liverpool boss Rafael Benitez last June.