David O'Leary said today that the big spending of Aston Villa's previous two managers is the reason there is little or no money at the club, but that he was well aware of it when he took the job.
John Gregory and Graham Taylor were allocated £90million between them during their tenures and O'Leary admits that it makes things difficult for him now.
O'Leary was given only £4million in the summer to strengthen the squad and he spent that on Sunderland duo Gavin McCann and Thomas Sorensen.
There is unlikely to be much money at his disposal in the transfer window despite Villa's current lowly spot in the Premiership with the scenario set to be much the same next summer.
Gregory was allowed to splash money on several big transfers including Juan Pablo Angel (£9.5 million), Paul Merson (£6.75million), Bosko Balaban (£5.8million), Dion Dublin (£5.75million), Olof Mellberg (£5.6million), Steve Stone (£5.5million), Alan Thompson (£4.5million) Steve Watson (£4.5million) and Mustapha Hadji (£4.5million).
Taylor brought in the likes of Peter Crouch, Marcus Allback, Ulises de la Cruz, Mark Kinsella and Stefan Postma for around £11million during his short second spell at the club.
In contrast O'Leary has seen seven players leave the club since he arrived in May with only McCann and Sorensen heading into Villa Park.
He said: "This club has spent more than £90million in the transfer market under the last two managers and that's why there's nothing left.
"You can't criticise that level of spending. It was given to the two managers and, in the nicest possible way, you can't spend what isn't there anymore.
"John Gregory and Graham Taylor had over £90million and spent it all so we must get by as best as we can.
"We have already lost seven players since the end of last season if you include Peter Enckelman going to Blackburn on loan.
"But I was told the situation when I came here and I knew I was walking into a massive challenge."