Despite being a World Cup winner in the previous summer, Banks was dropped towards the end of the 1966–67 season in favour of highly promising teenage reserve Peter Shilton. Manager Matt Gillies was blunt, telling Banks "we and the club's directors think your best days are behind you, and you should move on". Teammate Richie Norman told Banks that Gillies was pressured into the decision, Shilton having told the board he would leave the club unless he was given first team football. Banks was transfer listed at £50,000, the same price the club received for Derek Dougan in March 1967. However, many of the big clubs were unwilling to spend such a sum on a goalkeeper. Liverpool manager Bill Shankly showed strong interest, but could not convince the club's board of directors to agree to such a large fee for a goalkeeper. West Ham United manager Ron Greenwood was prepared to match the fee, but instead signed Kilmarnock's Bobby Ferguson for £65,000 because he had already agreed terms with Kilmarnock and did not want to go back on his word. Terms were instead agreed with Stoke City, a mid-table First Division side.