He is also adamant Moyes is the right manager to take the club forward. Oh dear.
Kenwright told shareholders: "The reason why David Moyes is a great manager like Arsene Wenger is that he sleeps, eats and breathes the club.
"We may have had a bad few weeks but Everton is in terrific hands.
"When David first arrived, he told me his ambition was to bring in a new young player every year.
"He wanted to bring the age of the squad down and he has been true to his word.
"David will not waste your money and I trust him."[james beattie]
Kenwright is, however, concerned that 64% of Everton's turnover in the 2005-06 financial year went on players' wages.
The bill increased by 20% from £30million to £37million.
So, in other words, David is wasting money.
He said: "The situation is not great and we would like to keep the mark at 50% of turnover.
"We felt it was necessary to push the boat out. Wages are a curse and this is an ongoing problem."
Everton are investigating the possibility of building a new stadium in partnership with Knowsley Council and supermarket giants Tesco.
But there was some opposition to the plan from the floor.
Kenwright said: "I do not want to be the guy who moves Everton away from Goodison Park.
"I did not want to be the guy that sold Wayne Rooney.
"I would love to stay here forever.
"But it is not a financial option for Everton to remain at Goodison Park.
"I have also been told by the council it is absolutely impossible to extend the footprint of the club.
"As a board, we have to make decisions and when we have made a decision we will go to the supporters."
One shareholder said: "Have the board thought about Everton leaving Liverpool and what that means to the supporters?
"It will be a long-term error to move out of the city limits.
"It will be a mistake to go to Kirkby." [Happy fans]
Kenwright told shareholders: "The reason why David Moyes is a great manager like Arsene Wenger is that he sleeps, eats and breathes the club.
"We may have had a bad few weeks but Everton is in terrific hands.
"When David first arrived, he told me his ambition was to bring in a new young player every year.
"He wanted to bring the age of the squad down and he has been true to his word.
"David will not waste your money and I trust him."[james beattie]
Kenwright is, however, concerned that 64% of Everton's turnover in the 2005-06 financial year went on players' wages.
The bill increased by 20% from £30million to £37million.
So, in other words, David is wasting money.
He said: "The situation is not great and we would like to keep the mark at 50% of turnover.
"We felt it was necessary to push the boat out. Wages are a curse and this is an ongoing problem."
Everton are investigating the possibility of building a new stadium in partnership with Knowsley Council and supermarket giants Tesco.
But there was some opposition to the plan from the floor.
Kenwright said: "I do not want to be the guy who moves Everton away from Goodison Park.
"I did not want to be the guy that sold Wayne Rooney.
"I would love to stay here forever.
"But it is not a financial option for Everton to remain at Goodison Park.
"I have also been told by the council it is absolutely impossible to extend the footprint of the club.
"As a board, we have to make decisions and when we have made a decision we will go to the supporters."
One shareholder said: "Have the board thought about Everton leaving Liverpool and what that means to the supporters?
"It will be a long-term error to move out of the city limits.
"It will be a mistake to go to Kirkby." [Happy fans]
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