Chief executive Simon Clegg says Town’s next manager will be given financial support just as the Blues’ two previous bosses have been, but within the parameters of the Financial Fair Play (FFP) rules. From this season clubs have to spend within their means, although with no sanctions for two years.
Clegg said: "I’m sure that the owner will support any new manager in the way that he’s supported the last two managers as they have come in.”
However, he admits that the lie of the land is very different to when Roy Keane took over as boss in April 2009: "The world has changed out there, I accept that, and we have to accept that.
"I’m highly conscious of the restrictions of Financial Fair Play and I think it would be irresponsible to go down a high-risk strategy which is totally dependent on securing promotion to the Premier League or, if you don’t achieve that, potentially sending clubs into administration.
"We can’t fall foul of that requirement,” he added. "You’re bringing in players on two or three-year contracts in some instances and it’s important to take that into account. And if you don’t take it into account it will be costly to you going forward.”
Jewell recently said that Town’s wage bill was around £6 million a year, which Clegg says puts Town "at the midway point” in the Championship. He says he doesn’t think Jewell was let down in terms of the money available last summer, however, he concedes that plenty of clubs in the division currently appear to be taking the gamble and are ignoring FFP: "It’s a high risk strategy.
"There are no sanctions for two years but one year has already passed and we’re into the second year now, so actually the sanctions will come from [financial] results which are produced going forward [from this year].”
He admits this situation may have put Jewell at a disadvantage when battling other bosses for players’ signatures: "Possibly, in some regards, but it’s not as if we haven’t made any resources available.
"When you look at the number of signings that have been brought in, loan signings or permanent signings, the financial support has been there.”
Clegg believes those signings will impress any incoming boss: "It is an attractive club because any manager will look at it and see the number of players we’ve bought in since the end of last season and the financial support and commitment that the owner continues to give this club.”
Questioned regarding the much-publicised failure to sign some of Jewell and Roy Keane’s targets, specifically Championship top scorer Charlie Austin, who opted to join Burnley in January 2011, he added: "You’re speculating that [wages were] the reason [Austin] left the club without signing.
"Conversely, we got Paul Taylor. You couldn’t speculate that Paul would be injured so early on in the season. I’m incredibly excited about the potential that he has to bring to this football team.
"I think it’s wrong to focus on one individual, but we are working within a budget and it’s not a bottomless pit, as much as many people think it should be.”
Clegg says until the Blues have enjoyed another spell in the Premier League they are always going to be outspent by other clubs while in the Championship: "The increase in parachute payments from two years to four years means that there are going to be more clubs with more money in the Championship who have come down from the Premier League. That’s going to make it harder for those that have not been up there recently to get back up.
"That doesn’t mean that we can’t be creative or effective and still aspire to that goal, which we can do as long we continue to enjoy the backing of the owner.”
He admits that the current total of eight loanees isn’t ideal — "but we are where we are because of a number of different factors” — and he’d like to see a home-produced Town side: "I’ve made it very clear sitting here before that in an ideal world there’s no one more than me that would like to see 11 players all having come through the academy.
"What I can tell you is that I am very excited about some of the youngsters we’ve got in the academy, and certainly, according to our academy director, Bryan Klug, there’s a reasonable chance that two, three or four of those individuals will be on the fringes of the first team by the end of this season. We’re very excited by what’s coming through the academy at the moment.”
Clegg says the club’s debt — which was £66.17 million in the accounts to June 2011 — won’t be a factor in the appointment of the new manager: "The financial position of the club is clear. Unlike many clubs we don’t owe money to the bank, most of the debts that we carry are owed to the owner himself. The best way for him to get out of that situation is for us to secure promotion to the Premier League.”
Regarding the annual interest of around £3 million which is added to the debt — but not physically paid to Marcus Evans as has been erroneously reported elsewhere — he said there will be developments at the PLC AGM, which will be held in early December: "I will be making some announcements in that regard at the PLC AGM and it would be inappropriate for me to announce that at this moment in time.”
Meanwhile, we understand that Dougie Freedman is set to complete his move from Crystal Palace to Bolton, despite late interest from the Blues.