"It's no longer a question of price negotiation, it's should we? People are wondering if now is the time to spend.
"The demographics of Liverpool as an area are not hugely compelling."
And Harris insists the future may be just as bleak for Everton's Merseyside rivals Liverpool.
"Liverpool's debt is due in January, with maybe a six-month extension," he said.
"The two banks which are the principal lenders, Royal Bank of Scotland and Wachovia, are two of those that have suffered.
"Whether they want to lend it again or not, they may not be able to."
However, Harris did add: "If they cannot find equity, well, it's a brave banker that would repossess Liverpool Football Club."
Harris, who was addressing a meeting of football financiers in Zurich, has masterminded deals at Chelsea, Aston Villa, Hull, West Ham, Manchester City, and has been charged with organising Mike Ashley's sale of Newcastle United.
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