"We will continue to invest heavily in the squad. We have spent £14million in the close season, and roughly £12million on Louis Saha in January.
"We are investing in the squad and we should not be throwing our hands up in horror and saying we cannot compete.
"We can compete, we are a very profitable company and a very well supported club. That means we have the financial assets to compete in the transfer market. Anyone who thinks we can't should watch this space!"