Sacking Sam Allardyce and Ronald Koeman cost Everton almost £15 million.
Koeman was deposed last October after a poor run of results while replacement Allardyce found himself surplus to requirement at the end of last season.
But the true cost of parting with the Blues’ two most recent managers and their backroom teams have been revealed as part of the club’s annual accounts.
A figure of £14.4m was spent on settlement costs for Allardyce, Koeman and their respective staff as well as the departure of ex-director of football Steve Walsh.
Everton disclosed the figure as part of £34m worth of ‘exceptional costs’ as they posted record revenues totalling £189m for the previous financial period.
However the appointments of current manager Marco Silva and Walsh’s replacement Marcel Brands were not factored into the financial figures.
Designs and other work relating to the club’s proposed new waterfront stadium at the Bramley-Moore Dock also accounted for £11.4m of financial outlay.
Goodison Park chiefs made an operating loss of £22.9m in 2018 compared to a £25m profit during the same period in 2017.