Everton's transfer plans are set to significantly change because of the financial uncertainty caused by the coronavirus pandemic.

All Premier League clubs are set to scale back on their spending in the next market with the ECHO understanding the Blues expect a window dominated by loans and swap deals.

Everton had made progress in their pursuit of Lille defender Gabriel Magalhaes before the suspension of matches in March but the shifting financial landscape means that future negotiations will be much different, for a player who was valued at £30m.

Part of the Blues' summer plans hinged on the selling of unwanted players, raising funds and creating room in the squad for new arrivals, as was seen 12 months ago.

But whenever the transfer window opens, there is an acceptance that clubs will find it harder to move players out on permanent deals and that loans may be the best way to get those on the fringes, off the wage bill for another season, as clubs adjust to a new financial reality.

Everton, who have been showing interest in Red Bull Salzburg forward Hwang Hee-chan, are expected to prioritise quality over quantity when the window opens with big money moves highly unlikely.

It is believed the club are planning to explore what possibilities there are in the loan market with many elite clubs expected to be open to doing more deals of this nature as all teams are forced to balance the books.

Swaps and free transfers are also to be looked into by the Blues.

This week, Manchester United offered a stark financial warning to the rest of the league when they revealed their accounts for the third financial quarter.

United, one of the richest clubs in the world, have seen debt rise and are budgeting to pay back £20m to the television companies because of the impact on the broadcasting deal for this season, caused by the coronavirus crisis.

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And, it is understood, Everton would prefer signing a top target on loan for a season, rather than buying a player who is further down on their wish-list.

Everton, like all clubs, are awaiting guidance from Uefa over any possible changes to Financial Fair Play rules, and from the Premier League over their profit and sustainability regulations, and whether that would allow any increase in spending to take place.

But big money moves are understood to be highly unlikely at this stage as plans laid out by Everton, for Carlo Ancelotti's first summer in charge, have been altered.