Kennedy, 17, moved south of the border for an undisclosed six-figure fee shortly before last week's transfer deadline.
"We have a substantial interest in Matthew's development should he be sold on by Everton, so that's something we will keep an eye on for the future," he said.
"We've received a significant six-figure sum. It's not significant in terms of Premier League standard, but he's a development player. It may be a long-term project."