Other clubs have been interested and the Latics didn't want to lose his services but as the Latics have been reputedly losing in the region of £65,000 per month over the last financial year, the sum is a windfall to the club. Spencer joined Athletic's Centre of Excellence when he was only 10 years old and when he was aged 15 the Latics turned down a £40,000 bid from Bolton Wanderers.
Alan Hardy commented, "Once a Premiership club comes calling it is very difficult to hold onto young talent, but we have agreed what we feel is a very good financial package and we wish Scott well for the future. We have reached the basis of an agreement with Everton and it's up to Scott to agree terms. We are not releasing any financial details, but we consider the offer to be satisfactory for a player of his experience.” Wayne Harrison set a British record fee for a 17 year old back in 1985 when Liverpool paid Athletic £250,000 for his services.