“The model that Arsenal used when it moved from Highbury to the Emirates, going from 38,000 to 67,000 and immediately filled it with corporate seats, was done at a time of substantial corporate wealth, and done at a time when levels of wealth in the south were higher.

“That’s not quite so straightforward anywhere in the north.

“The big cities outside London don’t have that level of personal income and don’t have that number of companies clamouring for boxes . . . and it was also four years ago.”

But Harris insists that the outlook is not bleak for the Blues.

“There have been good talks regarding Everton, but what I said was there is nothing advanced at the moment.

“I didn’t say there was no hope. I didn’t say that at all.

“But there are plenty of people having a serious look at it.

“There are certainly grounds for optimism. It’s a terrific club. And irrespective of your allegiances everyone respects Bill Kenwright for his fantastic support.

“Arguably he’s the club's biggest supporter.

“But he realised a long time ago that money runs through the veins of all football clubs, and big money, so it needs the support of a financial investor.

“And I think he arguably is one of the club’s biggest selling points.

“There’s got to be some change in the case of Everton and the change is a real challenge today rather than an opportunity.

“They are the issues confronting the club.”

Liverpool have their own financial issues to address, but despite a couple of hysterical headlines following his address in Zurich on Tuesday night, Harris does not believe the Reds run the risk of suddenly going under.

“The one thing that was very accurately quoted was when I was asked if I saw Liverpool being repossessed.

“I said that it would take a very brave banker that phones up a football club and says ‘we are calling in your debt.’

“Many years ago, when I had just joined up as Chief Executive at HSBC, which incorporated Midland Bank, the Midland were thinking of pulling the plug on Tottenham Hotspur.

“They were going to do it and were dissuaded when someone on the board pointed out ‘do you know how many Tottenham supporters there are who are customers of this bank?’

“I say it’s unlikely, but there’s not the easy solution now.

“In the world in which we are currently living refinancing options don’t get the automatic tick they used to. But both football clubs have bright futures, absolutely.

“They are two of the features of the football landscape, both past and present and surely future.”