He said: "When you have just got promoted there is always that doubt in everybody's mind.
"It gets exacerbated by the press and media that you will be relegated the following year.
"For the chairman who runs and subsidises this football club, there is always the doubt that, if you did get relegated, you are stuck with an enormous wage in the Championship.
"I know you get parachute payments but really they just pay for the difference in wages you pay players in the Premier League.
"There is a big balancing act to be done and I think Peter has managed it brilliantly this year and he needs to take a lot of credit for that.
"But now we are close to achieving our goal, we have to sit down and look at it again and say what funds we have to push the team forwards.
"We are spending money to improve the training ground, which is vital, but the most important thing is the team and that has to take priority over everything.
"Peter is a football man and he recognises and realises that.