Everton paid Real Sociedad £1m as part of the deal which saw Mikel Arteta move from Everton to Arsenal on transfer deadline day.
The figure was part of the deal which brought Arteta to Goodison Park in 2005 and will likely be more than David Moyes will get to see of the transfer fee, the majority of which is already nestling comfortably in Barclays’ accounts.
Despite reports in today’s Liverpool Echo which suggest money will be available in January for the Everton manager, the fact that a deal involving less cash and an Arsenal player heading to Everton was rejected shows that Everton were in dire need of cash. Arteta’s own statement earlier today confirms that The Blues needed to pacify the bank and that the deal came at exactly the right time.
The Echo also told us in January that David Moyes had the money from the Steven Pienaar to spend, something which has later been revealed as a total lie when Bill Kenwright told The Blue Union that all of the Pienaar money went towards keeping the wolves from the door.