The job that David Moyes carried out during his 11 years at Everton has been lauded throughout the footballing community. In fact, it's even more impressive when you consider that his team often finished above clubs with far greater budgets.
The tightened purse strings meant that Moyes often had to eek out a bargain, even from the Championship.
While Joleon Lescott and Phil Jagielka are notable signings from the second tier of English football, perhaps the most influential was Tim Cahill, who joined the Toffees on this very day in 2004.
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The Australian arrived from Millwall, whom he had helped reach the final of the FA Cup during the previous campaign. During his first season at Goodison Park, Cahill was Everton's leading scorer with 12 goals in all competitions.
His form was so impressive over the next two years that he was among the 50 nominees for the coveted Ballon d'Or award - the first Everton player to be on the list for 18 years.
As the years went by, so did the goals for Cahill, who had earned himself a reputation as a clinical midfield player. He even scored in three Merseyside derbies at Anfield. Not since Dixie Dean had a member of the Everton squad achieved that feat.
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During the 2011-12 season, there were signs that Cahill was not the force that he once was, though. He featured on 35 occasions in the Premier League, but scored just two goals.
With Marouane Fellaini now established in the side and primed for an attacking midfield role, it was no major surprise when Moyes allowed Cahill to continue his career in the MLS with the New York Red Bulls.
He left Everton in July 2012 having played 278 times and scoring 68 goals.