Aberdeen boss Jim Goodwin revealed he has been given a “very competitive” budget to rebuild the squad.
That is despite the financial hit of missing out on European qualification and the Premiership top six this season.
Goodwin will use the summer transfer window to overhaul a team that will finish in the bottom half of the Premiership.
The Pittodrie gaffer insists the size of his transfer kitty means there can be no excuses if the Reds are not pushing for Europe next season.
Failure to finish in the top six means Aberdeen will miss out on Europe for the first time since 2013 – and that will bring a financial hit.
This season Aberdeen exited the UEFA Conference League at the play-off stages.
Elimination at the play-off phase secured a €750,000 (£623,000) prize payment from UEFA.
Financial hit of bottom six finish
Aberdeen will also suffer the cost of failing to secure a top six berth this season.
Last season the Reds finished fourth in the Premiership, a position that would secure a £2.5m payment this term.
Aberdeen can at best finish seventh this season which is worth £1.8m.
However, if the Reds were to remain in their current ninth position they would land just £1.45m.
That would constitute a massive £1.05m reduction in prize money on where they finished last season.
Goodwin confirmed the lack of Euro action and drop in SPFL prize money will not affect his budget, which is already set.
He said: “The budget I am working to right now is a set budget.
“It’s a very competitive budget.
“I can’t use that as an excuse.
“It’s quite similar I would imagine to Hearts and Hibs.
“We should be up at that end of the table competing for those European slots year on year, like the club has done in the past.
“Hopefully next season we won’t be in this predicament.”
First steps in summer squad rebuild
Goodwin recently confirmed he is already in discussions with players in a bid to strengthen for next season.
The Dons boss is understood to be keen on Ipswich Town keeper Vaclav Hladky.
Czech Republic stopper Hladky, 31, has fallen out of the first team at League One Ipswich and has not played since December 29.
Goodwin previously managed Hladky at St Mirren before the keeper transferred to Salford City in summer 2020.
Wolves’ 24-year-old midfielder Connor Ronan, who is currently on-loan at St Mirren, is also on Goodwin’s radar.
St Mirren defender Charles Dunne is a summer transfer window target.
However Dunne is contracted until summer 2023 and it would take a six-figure sum to secure the 29-year-old.
There have been discussions between the two clubs but there remains a difference in valuations with St Mirren understood to want £250,000 for Dunne.
Goodwin is searching for a left sided defender, like Dunne, following the decision not to offer Andy Considine a new contract.
Players exit to maximize budget
A contract offer to Scotland international Considine, 35, was withdrawn after talks broke down.
Striker Jay Emmanuel-Thomas, 31, and defender Mikey Devlin, 28, both recently had their contracts terminated early.
Emmanuel-Thomas was contracted until summer 2023 whilst Devlin had a short term deal until the end of the season.
Allowing long-serving Considine to leave after 18 years in the first team squad was the biggest call of Goodwin’s time at Pittodrie to date.
Goodwin insists he has to make bold decision in order to maximize his budget.
He said: “Andy has been a great servant of the club, but there are no lifelong contracts.
“These things have to come to an end at some point.
“I can’t keep giving players money here and there.
“If I think I can use the budget elsewhere, that is what I need to do.”