West Bromwich Albion chairman Jeremy Peace admits they need to shake-up their transfer policy.
Peace has already appointed Terry Burton as Technical Director in a bid to halt an alarming failure rate in the transfer market.
"The most recent figures reveal that aggregate net debt and pre-tax losses of Championship teams totaled more than £850million and £315million respectively," Peace told the Birmingham Mail.
"This means there is so much riding on clubs trying to win promotion - let alone retain their Premier League status.
"With what is at stake, this has undoubtedly been the toughest season I can remember.
"But the most important thing is that we can attempt to correct the mistakes that have been made whilst still a top-flight club.
"For a club of our size, this has, and always will be, our number one objective and we hope that we can achieve this in a less fraught manner in future seasons.
"Terry will provide more footballing knowledge and experience at the highest level of the club.
"The structure we have had in place for the past six or so years has generally worked well and been a key factor in the club returning to the Premier League and staying there. We are certainly not going to rip it up and start from scratch after one poor season.
"However, there is no doubt that the structure needs strengthening and this process is underway."
