Portsmouth boss reveals current budget position and whether Michael Jacobs has to go after Ipswich Town deal collapsed

And the Blues boss has revealed he will not need to cash in on Michael Jacobs to balance the books after the dramatic capture of Joe Morrell.

But Cowley expects he will still need to be creative with his existing options, to work the space to get the players he wants over the remainder of the transfer window.

Morrell and Louis Thompson became the 11th and 12th arrivals this week, with the Welsh international choosing Fratton Park ahead of a move to big-spending Ipswich Town.

Those arrivals have been dwarfed by 16 departures this summer, as Cowley completely rebuilds his squad in a window he admits is the toughest he’s faced in management.

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Cowley still has his eyes on an attacking midfielder and striker before the window closes, while there’s still space in his squad for a young addition with Jay Mingi expected to sign.

He said: ‘We have to work it to where we want it to be. We’ve been working it all the way through.

‘We thought it was (Jacobs would need to go to sign Morrell) but now it’s not.

‘The owners have been great all the way through and I want to thank them for the way they’ve supported us with these last two signings.

‘I keep saying it, the money has been available but it’s me taking the time to spend it as wisely as I can.

‘The budget is still the same, we’ve just had to work it in another way.

‘We’ve got some really good players and they will be treated in the best way we can and as human beings.

‘We’ve probably still got to work to the budget, though.’

Of Pompey’s current squad, the futures of Ellis Harrison and Ronan Curtis remain firmly up in the air this month.

Both men are certainly bankable with the Republic of Ireland international the club’s prized asset and valued at around £2m.

Last week it seemed getting a small fee and getting Jacobs’ wages off the bill with a move to Ipswich would be necessary to oil the Morrell deal.

That’s not the case, however, with the Eisners sanctioning the move for the Wales international after the Jacobs move collapsed.

Cowley said: ‘I have to thank the owners for allowing the deal to go through still.

‘What we anticipated happening didn’t happen, but it’s worked out really well for me because now we have Michael and Joe!

‘They are good footballers and a good complement for each other.

‘Was it a plan all along? Well… I said to Michael to have a little holiday in Suffolk and asked Paul Cook to do me a little favour!

‘Seriously, it was literally out of my hands.

‘The budget is where it’s at, it’s what we’re working towards.

‘We obviously have not had the transfer kitty the club has had in previous times - that’s because we haven’t sold anyone.

‘In previous times there was money created to spend the money.

‘What we all have to respect is we are coming out of the pandemic.

‘We think we have some young assets, players who are assets. We also have to develop players and make them assets.’

A message from the Editor, Mark Waldron

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