Imagine David Moyes at Old Trafford

Imagine, to borrow a phrase from Beatleville, the even warmer glow cast over David Moyes's decade at Everton if Pierluigi Collina had not disallowed Duncan Ferguson's headed goal against Villarreal on Aug 24, 2005.

Imagine the Italian referee had realised Marcus Bent was more sinned against than sinning as shirt seams were stretched to ripping point during jostling for Mikel Arteta's late corner at El Madrigal. Imagine what might have happened to Moyes's team in this Champions League third qualifying round showdown, reaching extra time and hungrily seeking to build on Ferguson's goal. Instead, seething at the injustice, Everton conceded to Diego Forlan and all hope was gone. All respect for Collina too.

Imagine if it had been Everton, not Villarreal, eventually progressing to the Klondike group stage of the Champions League, raking in pounds 20?million-plus of Uefa's broadcasting booty and additional marketing, merchandising and ticketing income turning revenue streams into torrents.

Imagine what Moyes would have done with such money. His track record reveals a manager who invests intelligently, a crucial quality at Everton, where they lack a stadium to generate riches or a billionaire owner to fund extensive squad refurbishment. When it comes to shaping a team from modest materials, Moyes has proved himself season after season as the master of alchemy. From an average 14th place Premier League finish pre-Moyes, Everton now enjoy eighth.

Many other numbers add up to an impressive decade. Moyes's XI against Spurs on Saturday cost: pounds 45.6?million. Or a million quid more than Liverpool, tonight's [Tuesday] opponents who are only two points ahead, spent on Andy Carroll and Charlie Adam.

Everton started as Tim Howard (pounds 3m); Phil Neville (pounds 3.5m), Johnny Heitinga (pounds 6m), Sylvain Distin (pounds 5m), Leighton Baines (pounds 6m); Seamus Coleman (pounds 60,000), Leon Osman (trainee), Marouane Fellaini (pounds 15m), Royston Drenthe (loan); Tim Cahill (pounds 1.5m); Nikita Jelavic (pounds 5.5m). Moyes's bench set the club back only pounds 5?million. The subs who came on were Jack Rodwell (trainee), Denis Stracqualursi (loan) and Phil Jagielka (pounds 4m). The four remaining on the bench were: Jan Mucha (free), Tony Hibbert (trainee), Victor Anichebe (trainee) and Magaye Gueye (pounds 1m).

Others who have been involved include Steven Pienaar (pounds 2m initially, sold to Spurs for pounds 3?million, now back on loan), Darron Gibson (pounds 500,000), Ross Barkley (trainee) and Apostolos Vellios (nominal). Moyes has built a good squad for fractionally more than Chelsea lavished on Fernando Torres.

So where now for the League Managers Association's three-time Manager of the Year? Until Everton erect a cash machine of a stadium or a benefactor jets in from LA or Dubai, the Scot faces a future of the same old juggling act, of playing the Goodison Groundhog Day game.

Many believe it is time for Moyes to find pastures new, more fertile ones. Scarcely had Everton lit the 10 candles on Moyes's cake then some have been trying to blow them out. Everton must take it as a compliment to see their manager's name linked to wealthier clubs, reflecting the quality of Bill Kenwright's appointment from Preston North End, but it must also be a frustration. Inevitable though.

The man himself is admirably restrained and respectful towards his own employers. "Nothing at the moment will turn my head," Moyes said. "Everton's for me. I'm a loyal kind of guy most of the time."

Moyes's blood runs Everton blue but the calls will come. Tournament summers invariably see significant movement in many technical areas, and a vacancy already exists at Stamford Bridge.

White Hart Lane is an obvious destination should Harry Redknapp leave for England. Longer term, there's the obvious fit of Moyes as successor to Sir Alex Ferguson, another alumnus of Drumchapel Amateurs. Moyes's captain, Phil Neville, would prove an excellent, knowledgeable addition to his back-room staff if the Scot heeds the siren call of Old Trafford.

Certain quibbles have been washed away in the deluge of eulogies to Moyes before his March 14 anniversary. Not until Moyes assumes control at a marquee club can he fully answer questions over whether he can cope with a bigger budget, with bigger-name players.

The transfer conundrum is, in truth, hardly an issue. Moyes has an astute eye for a player, an ability to find the potent in potential and scouting the likes of Wesley Sneijder, Eden Hazard or Sergio Aguero is hardly an exacting science. Their class shines through. He rarely wastes money, watching the player time after time before swooping.

Can he deal with stars? Tensions existed with Wayne Rooney, needlessly spilling over into the player's autobiography, but the gifted attacker was always going to outgrow Everton. Rooney was a comet destined to hurtle towards a more glittering constellation. Rooney's subsequent apology and tributes to Moyes reflects the respect he feels for the manager who helped nurture his career. Good. They could be working together again one day.

Intermittent criticism seeping occasionally from Gwladys Street needs addressing. Not all Everton fans are in thrall to Moyes. They question the poor starts to the season, the reality that Everton's exceptional academy has blessed him with a supply of tyros such as Rooney, Hibbert, Rodwell and Barkley while playing one up at home often frustrates supporters.

Yet there is much to enjoy, whether it is the energy and industry of Baines down the left or Drenthe's surges. Jelavic's finish past Brad Friedel was as elegant as it was well-timed. With more generous transfer resources, Moyes could fashion more attractive, attack-minded teams.

Yet he has masterminded some famous victories over leading lights this season, making a mockery of those who question his tactical nous. Gareth Bale has rarely delivered against Everton because Moyes sets little traps for the Spurs flier, involving Neville or Coleman on Saturday. Moyes inspires trust and loyalty in his players, coaxing consistently high levels of work-rate.

If he left Goodison, the void would be immense. Even if Everton lose to Liverpool and are knocked out of the FA Cup by Sunderland, Moyes's achievements on a modest budget are worthy of all the acclaim.

And imagine if they prevailed: Moyes's stock would rise even higher.