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David Moyes has spoken about January transfers in his first press conference after returning to West Ham United.

Moyes was appointed as Manuel Pellegrini’s successor on Sunday, less than 24 hours after the Chilean was sacked following the 2-1 home defeat to Leicester.

A large section of West Ham fans are unhappy with the appointment of Moyes for the second time in as many years.

It’s not Moyes, but more what his appointment represents

Many respect the job he did in difficult circumstances the first time around.

And while supporters also respect him as a man they are furious with owners David Sullivan and David Gold and what Moyes’s appointment represents.

Less than 48 hours after Pellegrini’s sacking Moyes was holding his first press conference on Monday afternoon.

Facing a host of questions from the gathered media, Moyes was honest and up front.

He has inherited a squad that is desperately short in several key areas.

Moyes speaks out on transfers and owners

All eyes now will be on the January window and whether the owners back Moyes with new signings.

And the Scot told reporters he does have money to spend IF he feels he needs to. And he praised the unpopular owners as they come under increasing pressure from fans to sell the club.

“The club has spent well and the players need to stand up and show what they can do,” Moyes told the press, as reported by whufc.com.

“We need to demand all the things we did before. When I came in before, we had to try and quickly get a turnaround and we have to do that again, but I know I have a longer project to look at things after that.

“There is money there to spend if we need to. But I’m more interested in the players we have got and moulding them into the best possible team and get results. We have to look to pick up points and move away from the position we are in.”

Moyes made disastrous £9m Hugill signing

West Ham fans – and perhaps even the owners – are still scarred by Moyes’s decision to waste £9million on flop striker Jordan Hugill this time two years ago.

Hugill proved way out of his depth and has since been shipped out on loan to Middlesbrough and QPR.

This time around Moyes has been linked with a £12million move for 29-year-old Championship midfielder Joe Allen.

That is sure to raise some eyebrows among supporters.

Read: David Moyes identifies Joe Allen as prime January target but West Ham must pay £12m