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Toffees' debt growing by £5m a year


EVERTON chairman Bill Kenwright has admitted that the Merseyside club will lose up to £5m a year until they find a new owner.

Kenwright has been searching for investment at Goodison Park for several years, and has acknowledged a missed opportunity when the sheikhs of Abu Dhabi bought Manchester City.

The scale of the Toffees' financial pressures is laid bare with each set of accounts, but Kenwright insists the fans would prefer him to a new owner who might add to the debt. "Maybe there's a downside to having a chairman who is a football fan," he said.

"We lose £4-5m a year; that's a lot of money. I think Evertonians would rather stay with me, with all my drawbacks, if they knew that a new owner would saddle the club with debt."

Everton fans are bewildered that rich owners have snubbed Goodison, while the likes of Manchester City reap dividends. The reason is the stadium as Everton struggle with their ageing arena.

Liverpool's owners, the American-based Fenway Sports Group, spent £7.5m for each Premier League point they picked up between last October's purchase of the club and the end of the season according to the fourfourtwo.com football rich list, while Everton spent just £48,193 per point between Kenwright buying the club in 2004 and the end of last term.