The tower is old fashioned. Why you feel it needs to remain lookign like this I don't know. The wreath isn't entirely relevant anymore and is too dominant in the design. Confused about the little gap between the too aswell.
1878 and EVERTON look too small and adding FOOTBALL CLUB is pointless. The brand name needs to be dominant.
Overall, it's too busy and doesn't meet the clubs demands of a new modern badge.
I like it. Funny that you think the tower looks old fashioned but don't seem to have a problem with the Latin motto. Surely to bring it up-to date it should be nothing but the best is good enough or even NSNO?
This is a nice logo but I do agree that it is time to change the tower, the tower does not look like that to day and here it is taller than it relay is, but the idea is good.