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Last Updated: Tuesday, 28 September, 2004, 20:00 GMT 21:00 UK
Kenwright - 30m reports not true
Everton chairman Bill Kenwright
Kenwright is hopeful of investment from the Fortress Sports Fund
Everton chairman Bill Kenwright has refuted Monday's reports suggesting manager David Moyes will have funds in the region of 30m to spend in January.

Kenwright had told BBC Radio Five Live he was hopeful of sizeable investment from the Fortress Sports Fund.

But BBC Sport can clarify he at no point indicated how much of that might be set aside for player purchases.

"You would have to have serious hearing problems to get that from the interview," Kenwright added.

"As has been well-publicised and, as I said at the recent EGM, we are currently in negotiations with Christopher Samuelson and the Fortress Sports Fund," he continued on the club's official website.

"If negotiations are successfully completed then the club will benefit from a share issue circa 13m, with an option for a later investment that will take the total to 30m."

Kenwright said the group's initial stake in the club could be 29.9% - with Samuelson joining the board but Kenwright remaining as chairman.

But he again stressed the actual sums regarding the money made available for transfers would be known only to Kenwright, the board and Moyes.

"I am not going to discuss figures but I have sat down with David and we both know exactly what the transfer budget will be in January," he said.

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