Barclays demand Everton meeting as financial crisis deppends

Everton have an overdraft of £5m as well as £30m of secured debt. However, the club are on the verge of going over that £5m limit. The bank want to know where more money is going to come from.

Paul Gregg has defended his idea to raise £15m via a chare issue, after he main backer appeared to distance himself from the idea.

He told The Daily Telegraph: "Lord Grantchester has not changed his mind about backing Everton. Myself and my wife, together with the shareholders' association, are frustrated. The shareholders have requested an EGM, a date for which is to be set. They want True Blue [the holding company Kenwright formed to take over Everton from previous owner Peter Johnson] to be dismantled and become part of Everton."