The Swansea City Chairman was speaking out in the week when the club's movements for the nine months of the new season will be decided as the fixture lists are released this Thursday.
And he has had a look around the division and noticed that nobody appears to be splashing the cash almost seven weeks into the close season – just about halfway through the break.
And he told the Western Mail that the Swans are unlikely to be any different “We won’t be making any big-money signings
“We would like to bring in certain players that we think are amazing, but we can’t afford to be in that world without putting the club in trouble.
“If you look at how the summer has gone so far, no-one in this division is spending a lot of money.
“The only people that can are the teams that have come down from the Premiership because of the huge parachute payments.
“We are looking at every market, whether it’s loans, frees or players that would need a transfer fee.
“But we will wait and see which one represents the right deal for us.
“We have lists of players in every position that we have looked at. We just have to see which ones we can bring in.”
The Chairman though did admit that the departure of Leon Britton had increased the budget available to Paulo Sousa
“Leon was always in the bracket of people who could leave,” he explained.
“Once he turned down our final offer, we always knew there was a big chance he would move on.
“We were prepared for that. We wanted him to remain, but we were planning without him.
“That money is available to spend elsewhere. I wouldn’t say it’s fair to assume it will go on one player though.
“That is too simple an approach and we have to be looking at the whole picture.
“We still need to trim our squad this summer, we want to recruit, but we have to get players going in the other direction as well.”
This article first appeared on JACKARMY.net.