Queens Park Rangers boss Neil Warnock has rubbished rumours that the side will spend big in the summer to put together a top flight worthy squad, meaning that Joe Cole may not be making a move to QPR after all.
"What we have here is perceived money," Warnock told the Evening Standard, in regards to wealthy board members Flavio Briatore, Bernie Ecclestone and Lakshmi Mittal.
"I don't think anyone wants to splash out fortunes. I think the Premier League will be a great League to be in, and I think the owners will really enjoy it, but they will want me to be as thrifty as I have been in the Championship, getting value for money and entertainment as best that we can without spending millions.
"I can't see them throwing money around with 18,000 crowds. I don't think they want to be self-sufficient, as that is difficult, but they don't want to be throwing money around stupidly.”
Liverpool’s Cole has been linked with QPR on a few occasions recently, and with the midfielder failing to impress since moving to Liverpool from Chelsea last year, a move for the England international, possibly with a pay cut, looked likely.
But even with taking a pay cut, Warnock insists it wouldn’t be nearly enough to come into the QPR budget.
"I see we have been linked with Joe Cole but I doubt we could afford a quarter of his wages,” Warnock said.
"If you gave me fourth from bottom next season, then I would accept that now.
“The more years you have in the Premier League, the more chance you have of establishing and stabilising, such as Stoke or Bolton.
"I thought we could do that when I was at Sheffield United but we only spent around £2m in the Premier League, whereas here we need to invest a bit more than that."
Sources recently told Goal.com that Cole was readying for a move away from Liverpool, and is currently ‘evaluating his options’ to see if any move would be better for his career and family.