Initially Smith was linked with the manager's job at Sheffield Wednesday, but false promises made to him by the Everton chairman of massive transfer funds and unlimited ambition lured Smith to Goodison Park. Smith spent money on players only to discover that it was money the club did not have. When Duncan Ferguson was sold behind Smith's back, he was tempted to quit. The remainder of his time at Everton revolved around selling the club's top players to balance the books.