Bill Kenwright has lifted the lid on Everton's fraught relationships with banks and dire financial state which has left the club penniless this summer.
Kenwright, in a candid interview interview opportunity which he afforded the members of disgruntled fans coalition The Blue Union, spoke of the tense relationship the club has with banks and told how David Moyes, with no funds available, have had to resort to a player trading approach to recruitment.
He also revealed how the club have been active in their search for buyers, identifying potential takeovers candidates in Italy and Abu Dhabi.
Speaking in his London office, the theatre impresario defended his caution in dealing with buyers having already snuffed out phoney bidders in the past.
He said: "There’s a guy at the moment in Italy, another in Abu Dhabi, we’ve put a prospectus together.
"Look you’ll never get a better salesman than Bill Kenwright for Everton Football Club.
"We’re desperate, I’m desperate... every avenue has been explored. You either believe me or don’t believe me. What more can I do?”
The representatives from the Blue Union pressed the chairman on the lack of transfer funds for this season which sees Everton the only team in the Premier League not to have invested the their squad this summer.
Kenwright admitted that Blues were at their borrowing limit and, although under pressure from the banks to sell valuable players, he has refused to let big names to stave off the banks and hand Moyes small change to spend.
He said: "What do you think our squad is valued at for insurance purposes? It’s about £180m but the banks won’t take that as security.
"You have to battle with your bank, daily for me.
"When David started I said to him, we had the £30m debt, remember we were going to get £27m from NTL under Walter, we had an overdraft of £5m.
"I told him 'I’ll make you a promise, I’ve got no money but we’ll move heaven and earth to give you £5m a year.'
"On average we give him £5.6 every year. 9 years that’s £45m that we haven’t got. Add that to the overdraft, you can see what trouble we’re in.
"We have just done a document to the bank which says you can’t stop the football club from trading.
"Do you not think the bank doesn’t ask me every week how we’re doing with the sale? They’re fucking desperate.
"So what I’ve told them is ‘don’t kill us this season’.
"I will not sell Jagielka, just as last year I was hung drawn and quartered for not selling Arteta.
"You know the four players we don’t dare sell. Baines, Jagielka, Fellaini and Tim Howard; In simple arithmetic, if you want me show you, £5m a year for 9 years is £45m."
Insisting he is the right man to lead Everton until a takeover deal is struck, Kenwright assured fans he had 'everyone' working to find the a suitable new owner.
He said: “Everyone, I’ve got everyone, every lawyer (looking for buyers).
"Would I rather have every agent in the country, every lawyer out there looking for me, yeah I would; first thing I'd say to them, don’t worry about me, don’t worry about money, I’ll go tomorrow.”
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Les Gilston, Liverpool around 6 months, 3 weeks ago