Moyes, who has rejected bids for Joleon Lescott and Louis Saha this summer, knows he is in a race against time to bring in new players ahead of the club's Europa League play-off tie against Czech side Sigma Olomouc later this month.

The two-legged match will dictate whether or not the Toffees have a season of regular European fixtures and the income that brings and Moyes admits he needs to act now to reinforce his squad ahead of the first leg at Goodison Park on 20th August.

He has already brought in Shkodran Mustafi from Hamburg, Anton Peterlin from Ventura County Fusion and Jo on loan from Manchester City and is keen to sign more.

Moyes said: "We are not ready as far as the squad goes, we want more players in. We let a few go in the summer - Andy van der Meyde, Lars Jacobson, Nuno Valente - and we have not replaced any of those players yet.

"If we want a run in Europe we need more players quickly. The search goes on, it has never stopped all summer and I am feeling a bit demented with it all now!

"Apart from a couple of clubs, the transfer activity around the country has been limited. But for us, to have finished fifth and reached a cup final, to improve on that costs a lot of money. But we don't have that money. So trying to find players who are cheap, don't want much wages and will come here to improve us, well, it is not easy."