Chief executive Mark Jenkins has revealed that the West Bromwich Albion are currently operating at "record" outgoings and that there is "no more money" for wages.
At the start of the season, West Brom were taken over and a number of new signings were made, but the Baggies find themselves at the bottom of the Premier League table and appear on course for relegation to the Championship.
Jenkins recently returned to The Hawthorns to replace Martin Goodman, and Jenkins has said that he was "shocked" by some of the financial decisions which have been made.
"I'll be honest I've come back and I'm shocked at what I have found in some of the decisions that have been made. We have wages, transfer fees and loan fees running at record levels and yet we find ourselves in this position," he told the club's official website.
"When I was on the outside looking in, for example, I read the reports about the club operating at the limit of its short term cost control. Knowing the business as I did, I thought that was a negotiating position but I've come back and can assure you that we are right at our limit on STCC. There is no more money for wages."
Realistically, West Brom must win at least five of their remaining seven fixtures to remain in the top flight.
