Now the dust has settled on the January transfer mayhem, arguably the most intriguing move was not the signing of any individual player but Frank Lampard taking over the hot seat at Goodison Park.
The appointment is something of a gamble for both the club and the former England and Chelsea star who has been sidelined since his sacking as manager at Stamford Bridge a year ago.
Lampard joins a club which has won just one and lost 10 of their past 14 Premier League games and a fan base extremely unhappy with the club's lack of progress.
It is no secret that Lampard was not Everton's first choice and the former Chelsea boss must have thought deeply about taking the job where so many of his predecessors have failed to ignite the players and the fans.
The latest casualty was Rafa Benitez, but before him Carlo Ancelotti, Marco Silva, Sam Allardyce and Ronald Koeman were among those who found the pressures at Everton too much.
Lampard, 43, has got off on the right foot by seeking the backing of the Everton fans, something Benitez never enjoyed because of his association with Liverpool.
It is noticeable that amongst the three priorities Lampard stated at his first press conference was "to engage with the fans" noting "the first thing they want is fight and desire."
Everton's majority shareholder Farhad Moshiri who gave the final nod for the appointment was clearly impressed by Lampard.
"Frank will give the team an incredible boost," he said. "A dressing room will always rise to someone of his character and achievement."
Adding to the intriguing situation is Lampard's signing of two players out of favour with their previous clubs, Donny van de Beek from Manchester United and Dele Alli at Tottenham Hotspur.
Van de Beek's loan signing makes a lot of sense. He was inexplicably underused at United but looked useful in the few games he did play.
Importantly the Dutch star seems to have hit it off with Lampard.
"I had a very positive meeting with the new coach," he said. "We have the same ideas about football and he had a lot of influence on my decision."
It is now up to the new signing to show his skills on the field.
More intriguing is the signing of Alli who has been out of favour at Spurs for a couple of seasons.
During that time, on the few occasions Alli did play, he looked sadly out of touch.
Everton and Spurs have struck a sensible deal in which no transfer fee will be paid until Alli plays 20 games after which Everton would fork out £10 million. Further payments would depend on Alli's progress.
It is quite a gamble for Lampard. He has seen Alli at his best in his earlier years and must believe he can restore confidence to the talented but erratic midfielder who scored just one goal in 10 outings for Spurs this season.
Alli, who has 41 England caps, appears to be pleased with the move.
"I can't wait to play my first game in an Everton shirt," he said.
He also paid an emotional farewell to Spurs where he spent his last seven years, scoring 67 goals.
"It's the end of a chapter… but not the book," he said.
He paid particular tribute to former Spurs boss Mauricio Pochettino, thanking "Mauricio and his staff for their trust and guidance in the early part of my career."
This is a huge chance -- some might say last chance -- for Alli to get his career back on track.
But he is going to have to show the "fight and desire" that Lampard and the fans demand.
Lampard's immediate task is to overcome Brentford in the FA Cup fourth round today and a win would certainly help the atmosphere.
But a much more important game looms on Tuesday when the Toffees take on a Newcastle side expected to be rejuvenated by their new signings. It's a huge game for both clubs.
After all the turmoil, there is now some optimism at Everton following Lampard's arrival.
But it will be the results that count and the fans won't be slow in letting their feelings known if things go wrong.