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Everton chairman Bill Kenwright has admitted that the Toffees are unlikely to spend that much money this summer, as they prepare for a difficult financial time ahead.
Everton have been linked with sales as opposed to purchases this month, and Phil Jagielka is one player expected to be on Arsene Wenger's short list.
Kenwright revealed: "We knew this summer we were going to get to a point where things were going to be very, very tight and we knew we had to trade.
"There has not been a lot of trading in football itself this summer and we have not been able to trade yet and that is the reason we have not brought in a new player."
Written by majicka
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