In
| Player | Team | Date | Fee |
|---|---|---|---|
| Joseph Yobo | Marseille | 9 July 2002 | Season-long loan |
| Li Weifeng | Shenzhen Ping'an | 17 July 2002 | Season-long loan [recalled] |
| Li Tie | Liaoning Fushun | 18 July 2002 | Season-long loan |
| Richard Wright | Arsenal | 24 July 2002 | £3,500,000 |
| Rodrigo | Botafogo | 24 July 2002 | Season-long loan |
| Espen Baardsen | Free agent | 24 December 2002 | Free |
| Brian McBride | Columbus Crew | 2 January 2003 | 3-month loan |
| Ibrahim Said | Al Ahly | 2 January 2003 | Loan to end of the season [recalled] |
| Iain Turner | Stirling Albion | 6 January 2003 | £50,000 |
| Total (initial fees only): | £4,550,000 | ||
- Joseph Yobo (Marseille) – Everton had to pay a £1,000,000 registration fee for Joseph Yobo.
- Li Weifeng (Shenzhen Ping'an) – Li Weifeng's loan spell at Everton was cut short in January 2003 due to failing to settle in England and not playing in first-team matches.
- Espen Baardsen (Free agent) – Released by Watford to cut costs.
- Ibrahim Said (Al Ahly) – Everton cut Ibrahim Said's loan spell short in April 2003 reportedly so that he can look after his ill mother.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Alex Nyarko | Paris Saint-Germain | 19 June 2002 | Season-long loan [recalled] |
| Alec Cleland | Released | 1 July 2002 | |
| Damien Curran | Released | 1 July 2002 | |
| David Eaton | Released | 1 July 2002 | |
| David Ginola | Released | 1 July 2002 | |
| Jesper Blomqvist | Released | 1 July 2002 | |
| Ryan Valentine | Darlington | 18 July 2002 | Free |
| Keith Southern | Blackpool | 6 August 2002 | 1-month loan (extended to 3 months) |
| Peter Clarke | Blackpool | 6 August 2002 | 1-month loan (extended to 3 months) |
| Idan Tal | Rayo Vallecano | 6 September 2002 | Free |
| Andy Pettinger | Released | 9 September 2002 | |
| Leon Osman | Carlisle United | 4 October 2002 | 1-month loan (extended to 3 months) |
| George Pilkington | Exeter City | 2 November 2002 | 1-month loan (extended to 2 months) |
| Keith Southern | Blackpool | 8 November 2002 | Undisclosed |
| Paul Gerrard | Ipswich Town | 16 November 2002 | 1-month loan [recalled] |
| Joe-Max Moore | Released | 12 December 2002 | |
| Craig Penman | East Stirlingshire | 31 January 2003 | Undisclosed |
| Peter Clarke | Port Vale | 20 February 2003 | 1-month loan (extended to end of the season) [recalled] |
| Espen Baardsen | Released | 21 February 2003 | |
| Nick Chadwick | Derby County | 1 March 2003 | 1-month loan |
| Kevin McLeod | Queens Park Rangers | 20 March 2003 | 1-month loan (extended to end of the season) |
| Total (initial fees only): | £0 | ||
- Alex Nyarko (Paris Saint-Germain) – Alex Nyarko's loan spell at Paris Saint-Germain was cut short in March 2003 due to low morale.
- Alec Cleland (Released) – Eventually retired in January 2003.
- Damien Curran (Released) – Eventually joined Newry City during the 2002/03 season.
- David Eaton (Released) – Eventually joined Macclesfield on 10th September 2002.
- David Ginola (Released) – Eventually retired.
- Jesper Blomqvist (Released) – Eventually joined Sunderland on 30th August 2002.
- Andy Pettinger (Released) – Eventually joined Grimsby Town on 23rd December 2002.
- Paul Gerrard (Ipswich Town) – Everton recalled Paul Gerrard days before his loan spell ended due to a dislocated kneecap.
- Joe-Max Moore (Released) – Eventually joined New England Revolution on 28th January 2003.
- Peter Clarke (Port Vale) – Everton recalled Peter Clarke in April 2003 due to suspensions.
- Espen Baardsen (Released) – Eventually retired in July 2003.
| Income | £0 |
| Expenditure | £4,550,000 |
| Net Spend | +£4,550,000 |