Sheffield Wednesday owner Dejphon Chansiri has warned another transfer embargo is “inevitable” if the Owls cannot sort their finances out.
The Championship side have fallen foul of the Profitability and Sustainability regulations, and were banned from signing new players for several months last year.
And Chansiri - who bought the club four years ago - has revealed the Owls’ financial problems will not be solved unless they gain promotion to the Premier League this season.
That looks unlikely, with Wednesday languishing 16th in the Championship and new manager Steve Bruce - who will replace the axed Jos Luhukay - not due to take charge until February 1.
“Unless we achieve promotion this season, we will again experience problems,” said Chansiri. “I said it then and I say it now because I do not wish for bad surprises for our supporters. I wish to say it how it is and that way it is clear on both sides.
“To make our situation 100 per cent clear, we are not under any kind of embargo right now.
“However, if our problems cannot be solved by March when we submit our accounts to the EFL, another soft embargo is inevitable.
“This will become a full embargo if again the problems cannot be solved at the end of the financial year.”
Chansiri is hoping Owls fans will back a relaunched Club 1867, to help bring in much-needed revenue.
“I never ask for anything more than the best support possible from our loyal fans and with the Profit and Sustainability regulations, I repeat I cannot solve the problems we have as a club alone,” he said.
“We have to solve these issues together as these problems are not going to disappear.
“The solution we worked so hard to achieve this year will not matter next year, when the same problems will arise if we do not get promoted.”