Tough times on the blue half of Merseyside
While Liverpool have spent in excess of £100m since January under new owners the Fenway Sports Group, there has been nothing other than a long summer of silence across Stanley Park at Everton.
Manager David Moyes has barely spoken publicly since the final day of last season brought victory against Chelsea - perhaps an understandable stance given that he has had nothing to discuss given the lack of activity at Goodison Park.
All that changed when the results of a conversation between chairman Bill Kenwright and "The Blue Union" supporters' group were published late on Wednesday night and revealed the stark state of Everton's financial position and their inability to finance any improvements to Moyes' squad.
In the meeting, which caused great embarrassment and anger inside Goodison Park when its contents were made public, Kenwright laid bare how Everton are under severe financial pressure from the bank as they wrestle with debts of around £45m and outlined the failure to attract buyers to improve their fraught financial framework.
For years Moyes has worked wonders at Everton, despite financial inertia. Photo: Getty
Kenwright and Everton were immediately forced to embark on a damage limitation exercise and the affair may not yet be at a close as I understand the club is considering legal action on the basis they believed the meeting would be confidential without any recordings taking place.
His revelations will not come as a huge shock to most Everton observers who can simply point to Moyes' non-existent transfer budgets and the lengthy existence of a policy where he can only strengthen his squad via sales.
And yet the very public dissection of their problems by Kenwright will still have come as a shock to the system, especially in the light of the contrasting cash situation a short walk away at Anfield, where Kenny Dalglish is being bankrolled to conduct a hefty reconstruction of his Liverpool team.
Moyes is expected to break his lengthy silence on Friday before Everton's first game of the season against Queen's Park Rangers, a club that has ironically just unearthed a new owner, and he is certain to face an inquisition about Kenwright's comments and how the bank now appears to have a firm stranglehold on his hopes for further progress.
Despite the financial handicap, Moyes guided Everton to seventh last season and the talent in his team was underscored as Liverpool, Tottenham, Manchester City and Chelsea were all beaten at Goodison Park.
But as he moves towards his 10th anniversary as Everton manager, it appears the club is gripped by inescapable financial inertia, increasing the prospect of Moyes accepting he can no longer move the club forward in such reduced circumstances and will seek opportunities elsewhere.
This has created unrest among the fanbase and led to Kenwright's rendezvous with "The Blue Union" in his London office and the frank admissions that confirmed the worst fears of Everton's following regarding finances and the lack of interest from any potential purchasers.
He told them: "We have just done a document to the bank which says you can't stop the football club from trading. Do you not think the bank doesn't ask me every week how we're doing with the sale? They're desperate.
"So what I've told them is 'don't kill us this season.' No, I will not sell [Phil] Jagielka, just as last year I was hung drawn and quartered for not selling [Mikel] Arteta.
"You know the four players we don't dare sell. [Leighton] Baines, Jagielka, [Marouane] Fellaini and Tim Howard. In simple arithmetic, if you want me show you, £5m a year for nine years is £45m. The [Steven] Pienaar money has gone to the bank."
In a separate interview, conducted after a transcript of his meeting with "The Blue Union" was released he admitted: "We've come to the stage with our bank where we just can't borrow any more. The banks are tightening in."
Without more funds, the Goodison Park faithful fear for what the future might hold. Photo: Getty
So what is the way forward - if indeed there is one?
Kenwright supporters are hard to find in the current climate but there is one brutal truth even his detractors cannot avoid. You cannot sell a football club, indeed any commodity, if there is not a willing buyer.
He can also point to a less-than-unblemished track record of takeovers elsewhere. Not every new face at a club can provide the sort of finance on offer at Manchester City and Liverpool and many supposed saviours have turned out to be the complete opposite.
And when Kenwright insists he has been trying to sell, even uncovering one potential buyer who turned out to be a hoaxer who lived in a one-bedroomed flat in Manchester, then he must be taken at face value.
This has done little to satisfy those who lay much of the blame for Everton's current plight at Kenwright's door and there is no doubt chances for improvement have escaped the club in the recent past.
Sadly, what appeared to be Everton's great opportunity was missed during Kenwright's reign when a plan to move to a 55,000-seater stadium in King's Dock failed in 2003, while a proposed move to Kirkby also floundered amid much acrimony from fans unhappy at a move outside the Liverpool city boundaries.
It does appear Everton's only real hope is for Kenwright to uncover a new owner or major investor, but as well as funding Moyes' transfer ambitions they are also likely to have to factor a new ground into their equation - a prospect any interested parties will find unpalatable in the current economic climate.
And, in Everton's case, they have not unearthed a single serious suitor despite years of searching and the involvement, according to Kenwright, of brokers Keith Harris, Amanda Staveley, agent Leon Angel and several banks.
Until that day arrives, Kenwright will stay and Moyes must again perform the trick of keeping Everton ahead of those clubs around them with more powerful finances to call on.
And it all provides an uncomfortable backdrop to the start of a new season at Goodison Park on Saturday.