Everton are now battling financial issues and breaches of Premier League rules.
Dyche said, I would not have let that happen because it would not be good for the club and eventually it is going to hurt the club. That would be my opinion. And I know I can say that because I did that at another club. I can stand true to that."
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He added: It wouldn't have happened on my watch. Trust me. Because I would have been saying, 'no, no, no, no' because the health of the club is important to me. Having played my part in building one, I wouldn't be throwing the club under the bus by saying: 'I am the manager, I need 250m'.
"I would be going: 'No, how can that work for this club? We cannot afford it'."