Steve Bruce prepared to cut Sheffield Wednesday’s cloth accordingly

On the pitch the Championship’s reputation for being a division that is admired and respected for its glorious unpredictability precedes it.

Off it the fact that spending colossal amounts of money no longer appears to be an instant precursor to glory will surely only add to its compelling allure.

It will not be lost upon many that the last two favourites for automatic promotion from the Championship in Stoke City (2018-19) and Middlesbrough (2017-18) have spectacularly failed to justify their billing after spending heavily, only to then crash and burn.

The second-tier landscape appears to be changing, many would venture for the better, with many clubs – conscious of Financial Fair Play (FFP) regulations – forced to cut their cloth accordingly in their pursuit of success and others increasingly wise to the dangers of throwing silly money at a promotion bid.

Sheffield Wednesday are one such club who have gambled in the past and paid a fair price. They are far from alone.

The Owls are grappling with FFP issues to keep their financial house in order with Championship rules allowing clubs to lose an average of £13m a season – or £5m if an owner does not inject cash to cover the loss.

The recent hefty nine-point deduction for Birmingham City after being found guilty of breaking spending rules – the Blues incurred losses of nearly £49m, almost £10m more than the accepted £39m over a three-year period – has further heightened the risk of rolling the dice wantonly.

Yet there is an inkling of hope as well with the laudable feats at Norwich City and Sheffield United – clubs who have been shrewd as opposed to spendthrift – having resonated in boardrooms across the Championship.

Bruce for one has been observing while being mindful of his previous cost-cutting experiences at Aston Villa and acutely aware that his present club were placed under a ‘soft embargo’ last summer after breaching Profitability and Sustainability rules.

The Owls’ manager – and one-time Norwich player – said: “I have mates still at Norwich and they were all doom and gloom in the summer as they had sold (James) Maddison and the winger (Josh Murphy) – their best players.

“Fair play to him (Daniel Farke). What a good job they have done.

“When I got there (2018 play-off final) with Aston Villa there was a perception that we spent a king’s ransom. We did not. We used the market well and that is going to be the case here.

“You do not have to (spend a fortune).

“Listen, if you have got millions it helps, do not get me wrong, but we have to adhere to the rules like everyone else. The chairman has spent a lot of money here and did not quite make it. So we have got to pick up the pieces and dust ourselves down again and build a new squad that can take us to where we want to be.

“Without parachute payments then you have to cut your cloth, and to cut your cloth with the Financial Fair Play rules is difficult; really difficult.

“When you think of spending £10m-£12m for a player in the Premier League you would think you were going to get an average one. But that is around the total sum of losses you are allowed to make in the Championship.

“But we are all under the same umbrella. There are certain rules and we have just seen Birmingham take a slap for nine points.”

Having held a recent budgetary meeting with owner Dejphon Chansiri, Bruce has wasted no time in providing himself with valuable room for manoeuvre by announcing his retained list.

Out-of-contract players Gary Hooper, Marco Matias, George Boyd, David Jones, Daniel Pudil and Almen Abdi are among those to be moving on. Previously Bruce has spoken about the importance of re-aligning his squad with an infusion of youth, with utilising his contacts at several Premier League clubs to bring in loan signings likely to figure highly on his strategy

One thing that Bruce can count on, and has been buoyed by, is the response of fans since his arrival in February with his desire to provide genuine success for a fanbase that he rates as among the best in the business reinforced by his time at Hillsborough so far.

Bruce, who has sampled defeat just three times in 18 matches in an uplifting start to his Owls’ tenure, said: “It was one of the reasons why I am here due to the quite unique band of fans.

“If you are honest and straight with them they will support their club. That is quite refreshing.

“To get 5,000 (away fans) at Preston, who else would do that in a dead-rubber?

“Thankfully we have given them a little bit (back) because it has maybe been tough for them for 18 months after nearly getting there.

“But you cannot deny their loyalty; they are quite incredible.”