Kenwright blames banks for lack of transfers at Everton

Kenwright blames banks for lack of transfers at Everton
© PA Photos
Everton chairman Bill Kenwright accuses the recession for the Toffees lack of transfer activity this summer.

Everton chairman Bill Kenwright has blamed the recession for the Toffees' lack of spending in the transfer window this summer.

The Merseyside club has been quiet over the summer, with no notable signings going through.

While Everton midfielder Mikel Arteta has admitted that he hopes new signings will arrive at Goodison Park before the window closes, Kenwright has revealed that their bank will not allow them to borrow any money for players.

"Two things. One, the world is in a recession and I don't know any business that isn't suffering at the moment and I include football in that, other than the financial elite," he told Sky Sports News.

"Two, we've come to a stage with our bank with our finance where we just can't borrow any more. The banks are tightening in now. We just can't borrow any more money.”

The 65-year-old said that the lack of outgoing players has proved a stumbling block in bringing new additions into the club.

"We knew this summer we were going to get to a point where things were going to get very, very tight,” he added.

“We knew we had to trade. There has not been a lot of trading in football itself this summer. We've not been able to trade yet and that's the reason that we've not bought in a new player."

Everton host newly-promoted QPR at Goodison Park in their first Premier League fixture on Saturday (August 20).

Mikel Arteta
Read Next:
Arteta wants new Everton signings
You May Like
Recomended from Sports Mole

1Manchester CityMan City16151048113746
2Manchester UnitedMan Utd16112336112535
6Tottenham HotspurSpurs1684428141428
8Leicester CityLeicester166552322123
12Huddersfield TownHuddersfield165381126-1518
13Brighton & Hove AlbionBrighton164571421-717
15Stoke CityStoke164481935-1616
16Newcastle UnitedNewcastle164391625-915
17West Bromwich AlbionWest Brom162771222-1013
18West Ham UnitedWest Ham163491432-1813
19Swansea CitySwansea163310918-912
20Crystal Palace162591027-1711
Login, I already have my ad-free pass
Log in with Facebook to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account