'It's a never-ending challenge' - Sean Dyche admits Everton have no money to make new signings as another relegation battle looms

Dyche spoke openly and honestly about Everton's inability to spend in the wake of Saturday's humbling 4-0 defeat at the hands of Tottenham. That came only a week after opening the new campaign with a 3-0 loss at home to Brighton.

Everton were docked points twice last season due to falling foul of Premier League Profit & Sustainability Rules. The takeover situation is yet to be resolved and £71 million ($94m) worth of players have been sold - including Amadou Onana for £50m ($66m) to Aston Villa without being replaced. Those that have been brought in lack much in the way of top flight experience.

Dyche said to Sky Sports: "Until I'm told different, there isn't any finance to go and change things. This is what we are. We changed the storyline last season, then in the summer we sell big players. You're trying to build a squad and the challenge starts again. It's a never-ending challenge at Everton Football Club.

"We finished strongly last season. We sell a player [Onana] who's growing and maturing and become a very important player. And then we bring in others who we've got to start the process with again and make them grow and mature and become important players. It's a cycle that keeps going and going and going."

Although John Textor has been granted a period of exclusivity regarding a takeover bid - Everton fans hope it will be third time lucky after 777 Partners and Friedkin Group failures - completing a buyout is dependent on the American selling his 45 per cent stake in Crystal Palace. It means things won't be resolved quickly, keeping Everton locked in their current financial prison and forcing Dyche to work with what he's got to keep the Toffees above water for the foreseeable. Next up is Doncaster Rovers at home in the Carabao Cup second round on Tuesday night, followed by Bournemouth in the Premier League on August 31.