David Moyes said his plans to strengthen Sunderland's squad in January to boost the club's chances of Premier League survival have been foiled after chief executive Martin Bain revealed the manager will not be able to bring in players.
Bain said Moyes will have "very limited" funds to work with and will have to rely primarily on the playing resources available to survive yet another Premier League relegation battle.
"Yeah. I knew I had a short summer and I wasn't going to do much business in the summer, because it was really difficult," Moyes told British media when asked if he was frustrated that there will not be more money to spend.
"But I did expect to be able to do some business in January."
Moyes, however, was not too deterred over the size of his transfer budget, saying he will not allow it to affect his ambition for the club.
"I came here with two objectives. The first was to stay in the Premier League, and the second was to build the club. I don't see it has changed anything," the former Manchester United boss added.
Despite a spirited performance, bottom-placed Sunderland lost 1-0 to leaders Chelsea on Wednesday and will hope to get back to winning ways when they host 11th-placed Watford on Saturday.
(Reporting by Shravanth Vijayakumar in Bengaluru)