Crystal Palace will work to a strict budget for this summer's transfer window.
The London Evening Standard says co-chairman Steve Parish, chief executive Phil Alexander and coach Ian Holloway were meeting yesterday to discuss how much of their £120million windfall will be put towards the ground.
They were also beginning talks over transfer targets but Parish says Palace will not spend recklessly this summer as they hope to copy the template by clubs such as Swansea for staying in the top flight.
Parish was part of a consortium that helped save the Eagles from going bust three years ago and added: “We have to have a go but we have to be prudent. QPR aren’t the only example [of spending a lot on transfers and still getting relegated].
“They’re getting picked on at the moment but there are a lot of clubs who have spent too much in the Premier League and ended up regretting it.
“Today we will start work in earnest. I will sit down with Phil the chief executive and Ian to go through everything. We have got to be sensible. We’re playing catch up with teams who have been in the Premier League for years."