Laws said the club were committed to managing their arrears while at the same time building a successful side.

Wednesday could potentially reduce a third of their debt by selling players such as highly-rated defenders Richard Wood, Mark Beevers and Tommy Spurr.

But Laws – who is currently negotiating an extension to his contract which expires next summer – insisted the club's priority was on-field success.

"We don't have to sell players; the club is being maintained within a set framework and is managing itself," he said.

"If you want to get rid of the debt then you have to sell your assets, but we're trying to manage the debt and build a team at the same time.

"The easiest solution is to sell off your assets – that's obvious. But because the assets are on the pitch, if you start doing that you'll end up dropping out the division.

"It's vitally important that this football clubs stays in the Championship – there's no doubt about that at all.

"You never know what's ahead of you in football, but at the present time there really is no reason for us to go out and sell our silverware, so to speak.

"There is some terrific talent at this football club, and when you're talking about 18-19-year-old players emerging and doing really well, then it is very exciting.

"Those lads are very much the foundation of Sheffield Wednesday and that is what we've got to build on."

With ongoing uncertainty surrounding Wednesday's off-the-field affairs, with the club having been the subject of much takeover speculation, nothing appears to be set in stone.

Some supporters fear the likes of Wood, 23, could depart in the January transfer window with Coventry having tabled a bid before the last transfer deadline and the player having previously expressed a desire to leave.

The likes of Manchester United and Chelsea have reportedly expressed an interest in 18-year-old Beevers, while Spurr, 21, has also attracted admirers with some consistent displays.

But Laws is determined to keep his squad together and capitalise on the club's promising start to the season, with mid-table Wednesday just six points off the play-offs.

"It's been the best start we've had for a long time, and it's been done under very difficult circumstances," he insisted.

"That's a real credit to the players and they have been very focused this year.

"The players are believing in what they're doing and they're a good bunch, a tight unit, and there are no prima donnas here. They just go out there and give their all and I think the squad we're developing is growing in stature."