Jeremy Peace: West Brom boss has my backing
"Does it present problem for us paying more money on a player if we get him on a free? No it doesn't.
"Would we take a player on higher wages? Yes, but we don't have a benefactor so we have to run the club in constraints to our income.
"We obviously didn't spend all of our money wisely last season and so we need to make sure we do so.
"We talk about our three year model. We are now preparing on, a worst case scenario, for two seasons of parachute payements and one Championship year without.
"We have invested two years of parachute payments into players already. All the money has been absorbed already so there isn't any left over."
Commenting specifically on Mowbray, Peace added: "Tony has two years left.
"The reaction of the fans and the way they were last week, was fantastic.
"Everyone clearly likes the football we're playing. We are work in progress and Tony is very much part of that.
"Tony is at the helm and we'll give it a go again. One thing is certain, next season we need people who can score us goals
"We have to take one step back but hopefully we take that one step back from a stronger position."
