Everton chief Robert Elstone admits long-term squad building plans are in doubt over the rejection of the club's new stadium hopes.

Everton hoped the Kirkby project would provide the boost to revenue to help manager David Moyes with necessary funds to invest in the squad and push for a lucrative place in the Champions League.

Elstone accepts those plans will need to be re-thought.

"The motivations were about driving Everton forward and ultimately giving David Moyes a fairer crack of the whip in the transfer market," he told evertonTV.

"That challenge hasn't gone away and it's a challenge now that we're going to have to pick up and run with and perhaps find another solution."