The Chairman of investment bank Seymour Pierce, Keith Harris, thinks both Liverpool and Everton could struggle to cope with the current global financial crisis.

Harris' help was enlisted by current Everton chairman Bill Kenwright to search for a buyer for the club but no offers have been forthcoming.

Harris said: ""It has never been more difficult to find buyers," he said.

"There has been no progress at all (with finding a buyer for Everton).

"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 the future doesn't look much brighter for Merseyside rivals Liverpool.

The Reds are deep in £350m debt and if co-owners Tom Hicks and George Gillett cannot find a way to pay it back before January next year they will also have a torrid time.

Harris, said: "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."

"If they cannot find equity, well, it's a brave banker that would repossess Liverpool Football Club."

Harris made the comments at a meeting of football financiers in Zurich. He has brokered deals for Chelsea, Aston Villa, Hull, West Ham, Manchester City in the past and is currently in charge of the unenviable task of organising Mike Ashley's sale of Newcastle United.

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