Reports in yesterday's Guardian reveal that Adams could have £4m to spend on the squad this year. A fortune compared with last season, but bugger all when you realise that it is for the transfer fees and wages of the 7 or 8 Premiership quality players he has said he needs to sign!

The Guardian's Adrian Milledge says that most of the season's money is accounted for already...City will get £15m from Sky but of that £4.5m is owed to players and management in deferred wages and £4m will go to creditors after the club's emergence from administration.

Leicester's chief executive Tim Davies said

"Obviously money does not guarantee success but, in financial terms, we're at a disadvantage to many clubs.

"The two other clubs that were promoted with us, Portsmouth and Wolves, each have a wealthy benefactor while we do not."

Davies also said that some old bills will need to be paid out of their future income.

"A large portion of any club's income is up front before the season starts: from season ticket sales, sponsorship deals and TV money," he said.

"Because we took over the club midway through last season we didn't benefit from that. So we must pay those bills with this season's money.

"How we get on will depend on the manager - how he manages his budget and how his players perform. It makes his job even more challenging."

The Guardian goes on to say that Adams is happy to accept the task after agreeing a deal which doubles his annual salary to £500,000.

"My contract is performance-related," he said.

"If we get relegated then I take a pay cut. The same applies to anyone who joins the club from now on. Fortunately I'm not responsible for the existing contracts."

The Guardian also says that players such as Ian Walker, Matt Elliott, Muzzy Izzet and Frank Sinclair, none of whom Adams signed, currently account for more than half of the Foxes' £12m annual wage bill.

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