Peter Pannu has stressed Birmingham City financial house is in order, following on from suggestions that there would be little money to spend this summer.

Carson Yeung’s right-hand man insisted the Hong Kong tycoon would continue to provide funding. But he explained that, like most clubs, Blues would not be throwing money about in reckless fashion, regardless of what division they end up in.

Headlines touting ‘Carson won’t splash the cash’ have dismayed Pannu but were prompted by Yeung’s programme notes for last weekend’s Fulham game.

“I think if people read carefully Carson’s words and use basic common sense then they will understand,” said the acting chairman.

“He is not saying he won’t spend, he is saying the spending has to be sensible. The infrastructure and the squad will be improved, and he made it clear he is not stalling his financial support.

“But just because we qualified for Europe it doesn’t then mean that we have to be throwing around crazy money like £50 million or something. There is no point in elevating the expectations of anybody in an unrealistic fashion.

“Carson is being very open and astute in setting out the financial direction of the club and for that I salute him.”