Exeter City manager Paul Tisdale has predicted that the club will not be able to make any new signings in the summer because of financial constraints.
Giving a talk to supporters group the North Devon Grecians, Tisdale said: “It’s a business, an economic cycle.”
“We are looking 18 months into the future with our squads and our budgets. Most clubs don’t look 18 days.
“I don’t think we’ll make a signing this summer because we won’t be able to afford to. That’s the reality.
“We are a selling club. The money we get, every penny goes back into football.”
The news will come as a blow to fans, who have the seen the current squad falter this season.
City go into the final two games of the season just two points clear of the relegation zone and needing a result against league leaders Scunthorpe United this Saturday.
It is a far cry from the days when City finished eighth in League One in 2011.
Tisdale believes if they had kept that squad together they would be on the verge of the Premier League by now, but said there was little hope of them doing that.
“If I could have kept all those players, we would be on the verge of the Premier League now,” he said. “There was no way we could keep that team together. You had players playing at the top end of League One on Conference wages.”