Moyes ready to splash cash

Everton boss David Moyes has promised shareholders he will spend in the January transfer window to improve the club’s strike force.

And at the club’s annual general meeting at Goodison Park, chairman Bill Kenwright insisted the money would be found to allow Moyes to acquire new players to pull away from the relegation zone.

Moyes accepted that “one of the worst goalscoring records in the Premier League” will have to be improved.

Moyes, who spent a club record fee on James Beattie to prepare the club for European football, said: “Goalscoring is not good enough, and the situation will be strengthened if possible in January.

“Our defence has not been too bad, before the weekend it was the 10th best in the division, but the goalscoring was the worst. It shows what parts of the team have been doing okay and where the problem is.”

Everton, who slipped back into the relegation zone after Saturday’s 4-0 defeat at West Brom, announced a record turnover of £60million – 34% up on last term - and the best set of financial results in the club’s history.

The sales of Wayne Rooney and Thomas Gravesen had much to do with the change in the club’s financial fortunes.

The growth in turnover was mostly accounted for by an increase in broadcasting revenues, which were £29.5million compared £20.7million in 2004.

Gate money was £18.7million, which compares to £15.6million for the previous year, sponsorship raised £4.2million – up from £2.5million – and replica kit sales and merchandising generated £5.4million, up from £3.4million the previous year.

The club appears to have eliminated its long-standing overdraft, with the accounts showing the club to be in the black to the tune of £8.7million. It had £3.6million cash last year.

The club’s ‘running debt’ has also been cut from £47million to £28million, with player trading now showing a profit of £28million compared to a deficit of £15.4million last year.

Kenwright supported his manager by saying: “We will know by January what needs to be done and we will make it happen.”

Moyes, who has been linked with Rangers recently, pointedly said: “I will always take responsibility for results, I will never hide. But I have felt at home here ever since I arrived and I still feel that, this club is for me.”

The Everton chief also praised the performances this season of Nigel Martyn, Mikel Arteta, Joseph Yobo and David Weir, but also conceded that he must do something about replacing veteran Martyn, adding: “We are looking at goalkeepers all over the country and Europe and I would like to sign a new ’keeper before the end of the season.”

Chief executive Keith Wyness, who came under fire for increases in prices generally at the club, revealed work has finally started in the club’s new academy and it is hoped that it will come into operation by the end of next season, with the first team players also moving from Bellefield to the new training HQ.