In
| Player | Team | Date | Fee |
|---|---|---|---|
| Gary Speed | Leeds United | 21 June 1996 | £3,500,000 |
| Paul Gerrard | Oldham Athletic | 31 July 1996 | £1,000,000 (+£500,000 add-ons) |
| Nick Barmby | Middlesbrough | 30 October 1996 | £5,750,000 |
| Terry Phelan | Chelsea | 30 December 1996 | £850,000 |
| Claus Thomsen | Ipswich Town | 15 January 1997 | £900,000 |
| Gary Dempsey | Cherry Orchard | 20 January 1997 | Free |
| Total (initial fees only): | £12,000,000 | ||
- Gary Speed (Leeds United) – Gary Speed agreed to join Everton on 25th May 1996 but the completion of the move was delayed because of Speed's honeymoon. He eventually joined on 21st June 1996, despite an attempted last-minute gazumping from Newcastle United.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Matt J. Woods | Chester City | 29 May 1996 | Free |
| Barry Horne | Birmingham City | 5 June 1996 | £280,000 |
| Gary Ablett | Birmingham City | 17 June 1996 | £390,000 |
| Andy Weathers | Released | 1 July 1996 | |
| Bart McHugh | Released | 1 July 1996 | |
| Chris Knight | Released | 1 July 1996 | |
| Chris Price | Released | 1 July 1996 | |
| Chris Roscoe | Released | 1 July 1996 | |
| Ged Hennigan | Released | 1 July 1996 | |
| John Maguire | Released | 1 July 1996 | |
| Robbie Wood | Released | 1 July 1996 | |
| Robin Hulbert | Plymouth Argyle | August 1996 | Free |
| Daniel Amokachi | Besiktas | 4 August 1996 | £1,750,000 |
| Matt Jackson | Queens Park Rangers | 19 August 1996 | 1-month loan |
| Jason Kearton | Crewe Alexandra | 16 October 1996 | Free |
| Matt Jackson | Birmingham City | 31 October 1996 | 1-month loan (extended to 2 months) |
| Peter Holcroft | Released | 31 October 1996 | |
| Mark Grugel | Released | December 1996 | |
| Vinny Samways | Las Palmas | 10 December 1996 | £700,000 |
| Matt Jackson | Norwich City | 23 December 1996 | £450,000 |
| Neil Moore | Norwich City | 6 January 1997 | 1-month loan |
| Anders Limpar | Birmingham City | 18 January 1997 | £100,000 |
| Neil Moore | Norwich City | 20 January 1997 | Free |
| Andrei Kanchelskis | Fiorentina | 30 January 1997 | £8,000,000 |
| John Hills | Swansea City | 31 January 1997 | 1-month loan (extended to 2 months) |
| John Ebbrell | Sheffield United | 26 February 1997 | £1,000,000 |
| James Speare | Darlington | 27 March 1997 | Free |
| Paul Rideout | Huan Dao Vanguards | 15 April 1997 | £250,000 |
| Total (initial fees only): | £12,920,000 | ||
- Andy Weathers (Released) – Eventually joined Knowsley United in September 1996.
- Bart McHugh (Released) – Eventually joined Knowsley United in January 1997.
- Chris Knight (Released) – Eventually joined IF in the Faroe Islands in 1997 following brief spells (possibly trials) at Blackpool, Wigan and Southport.
- Chris Price (Released) – Eventually joined Moss FK in June 1997.
- Chris Roscoe (Released) – Eventually joined Vauxhall Motors ahead of the 1996/97 season.
- Ged Hennigan (Released) – Eventually joined Barrow ahead of the 1996/97 season.
- Robbie Wood (Released) – Eventually joined IF in the Faroe Islands in 1997.
- Robin Hulbert (Plymouth Argyle) – Everton would receive £25,000 for every 30 appearances Robin Hulbert makes at Plymouth Argyle.
- Daniel Amokachi (Besiktas) – Deal agreed on 29th July 1996 but move was not completed until after Daniel Amokachi's participation in the Olympics.
- Peter Holcroft (Released) – Eventually joined Swindon Town on 7th November 1996.
- Mark Grugel (Released) – Eventually joined Barrow in 1997.
- Paul Rideout (Huan Dao Vanguards) – Paul Rideout was due to sign for Huan Dao Vanguards the previous week but was told to return to England from China to play against Tottenham due to an injury crisis at the club.
| Income | £12,920,000 |
| Expenditure | £12,000,000 |
| Net Spend | -£920,000 |