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One down then. Everton confirmed the signing of Carlos Alcaraz on a permanent deal on Saturday, activating the option the club had in his loan agreement from Flamengo. While supporters were

delighted to see the 22-year-old signed up, some eyebrows were raised when the club statement was read. Alcaraz's contract only runs for two years, with the initial deal running until

2027. There have been reports suggesting that Everton do have an option to extend the deal for a third term, although even that would be short for such a young player. With the deal agreed,

a couple of our Blues writers had their say on the make-up of the contract. JOE THOMAS The length of the contract is curious and I suspect we will find more detail about this in the summer,

though it may take until pre-season when it is easier to explore some of the more complex issues around the build-up to the season. The main issue with a two year deal is that it makes

Everton's PSR obligations more strenuous. This essentially becomes a PSR burden of just over £6m for each of the two years of the deal - though that would change should the option of a

third be taken up. That is different to say, had he signed a four year contract, more typical of these times. Then Everton would be looking at a PSR obligation of just over £3m for each of

those years. Features such as that are esoteric and might sound unimportant, but they can matter. Last year, when Everton found themselves needing to secure early summer sale to avoid a

third straight PSR breach, that type of detail could have been significant. Going forward, I don't think it will be. There are reasons to believe Everton's position heading into

this June 30 fiscal deadline might be tight again due to the hangover of previous years. But should they get over the line, and The Friedkin Group were confident in their ability to do so

earlier in the year, compliance in the years to come should be more straightforward. The removal of prior heavy losses from the PSR calculations, the additional commercial and sponsorship

revenue inspired by the move to the new stadium and the restructured debt packages should give the club a new financial lease of life. They may not regret this two year deal from a PSR

perspective then. And there may well be good reason for the caution, even if takes time to get clarity on it. For now, my instinct is to be positive about the club acting early to secure a

player who I believe had a really encouraging impact during his loan spell and whose purchase was, for me, a no brainer at the price he was available at. MATT JONES While signing Alcaraz

permanently always felt like a win-win for Everton, the club now find themselves in something of a curious situation with this deal going forward. Blues are understandably conditioned to

think cautiously about transfers after recent years. So the fact Alcaraz is only signed up to an initial two-year deal is fine in the eyes of some. Everton will not be getting stuck with a

player on decent wages and a long contract if this doesn't go well. But what if it does go well? Should Alcaraz kick on again in the Premier League next season then Everton have left

themselves exposed with this type of agreement. An option to extend the deal by an extra year makes the terms more palatable and does give the Blues a degree of control. It also means a

surge from the player can be reacted to with an extension of his deal straight away. It is perhaps with that uncertainty in mind that these conditions have been agreed though. David Moyes

did at times feel uncertain about Alcaraz, despite the undoubted highpoints he had during his loan. And perhaps the Argentine has had interest from elsewhere or even fancies his chances of

using the Blues as a stepping stone to bigger things further down the line. Either way, for now Everton have secured a valuable squad member for next season at the start of what promises to

be a chaotic summer. If Alcaraz catches fire next season then there could be some panic about the future. But that would be a better transfer problem for the club than the ones they've

had to contend with in recent years.