BILL KENWRIGHT has revealed his search for new investment at Goodison is being hampered by time-wasters.

The Everton chairman, who was speaking at the launch of the club’s timeline last night, says he has come close to doing a deal over the past year, only to find potential buyers don’t have the cash to back up their bullish promises.

“There are many people out there who purport to have millions, even billions, who are ready to sign the cheque,” he said.

“But the minute you say ‘show us the funds’ they go missing and you don’t hear from them again.

“You can’t put a time frame on it. I’ve been saying this for four or five years. I’ve got what I thought was close four times in the last 10 months, but it was not even close enough. Not even near. There are people out there who would astonish you.

“They come to you and promise it’s going to be done. They ask for it to happen quickly so they can get the funds in quickly, and David (Moyes) can have some funds.

“But then the minute you ask to see the money you never see them again. To get to that stage each time is a lot of heartache, hard work and legal fees. It goes on and on. It’s quite extraordinary..”

Kenwright insists there is some cash for manager David Moyes to spend prior to next week’s transfer deadline but he doesn’t expect any new arrivals.

“There’s always money available, but it’s not much I have to say,” he added.

“We’ve made a few transfers and if the manager found someone he really wanted we could maybe do a bit of wheeler dealing. But I don’t think that’s top of his list at the moment. He’s really pleased with the squad that he’s got.”