DAVID MOYES has admitted for the first time he is unlikely to have the Mikel Arteta transfer money to spend on new players – with Everton FC’s banks having taken the majority of the £10million fee.

Everton FC have consistently dismissed suggestions that Arteta’s departure for Arsenal on deadline day in August was primarily to ease the club’s debts.

But while Moyes maintains it was his decision to sell the player, he revealed the transfer fee has already been swallowed up by Everton FC to service their deficit.

Asked yesterday if he would have access to the £10m in this month’s transfer window, the Goodison manager said: “I don’t think that is going to be the case.

“I think everybody knew at the time that the bank wanted the money. People knew that really.”

Moyes had originally pinpointed signing a new striker and creative midfielder on loan this month, although that focus shifted when Phil Jagielka was last week ruled out for up to six weeks with knee ligament damage.

Jagielka will be one of several players missing as an injury-hit Everton travel to Tottenham Hotspur for their rearranged Premier League fixture this evening.

While the Goodison outfit are in mid-table, Harry Redknapp’s side are challenging for the championship and victory would see them move level on points with second-placed Manchester United.

Eighteen points separate two teams who, until recently, were battling each other on a regular basis for European qualification.

And Moyes admits it is “sad” Everton FC have not been able to keep pace with the progress made by Tottenham.