Wanderers chairman Phil Gartside today hit back at former boss Colin Todd, who accused the club of 'double standards'.
Todd described Wanderers signing of Per Frandsen - whose transfer sparked the manager's decision to resign last September - as 'a joke'.
"Ten months down the road they are signing a player I wanted to keep. I and previous chairman Gordon Hargreaves did not want to sell him."
But today current chairman Phil Gartside said that the economic climate at the club dictated matters.
"The finances have changed in that we have sold two players for a combined £8m and when a player of the quality of Per Frandsen comes on the market for less than we sold him for we had to look at it and see if we could afford it.
"Having sold Claus Jensen we have bought an equivalent player.
"Last Septermber the club was in dire financial straits and Colin Todd chose to resign because he felt he could not live with the financial restraints which were put on him.
"We failed to regain our Premiership place and we felt there was a need for a change which was another reason for him leaving."
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