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We all know that football clubs’ fortunes fluctuate over time, no matter how well they are managed, but Everton’s shambolic failure is truly shameful.

The club spends a fortune on financial and legal experts and has only itself to blame for its breaches of the financial rules.

And its choice of financing is, at best, naive and, at worst, questionable and worrying.

I first watched Everton in 1958, when I was 11 years old. My father and my uncles must be turning in their graves, and current fans must be bemused and angry at this betrayal of trust in our once-great club.

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