CHERRIES boss Eddie Howe has ruled out the possibility of embarking on a summer spending spree and says he may have to further reduce his squad numbers before he can add.

Howe has already been linked with a host of players – with some reports even suggesting the club could be ready to shell out huge transfer fees on big-money signings.

The reality, however, is that Cherries will be governed by the Football League’s financial fair play rules with promotion to the Championship bringing closer scrutiny of clubs’ spending.

Howe set about trimming his squad shortly after he had returned to the club in October with several of the club’s lower wage earners having had their contracts paid up.

And although Howe was given the green light to bolster his resources in the January transfer window, promotion will see the wage bill increase considerably next season.

Howe told the Daily Echo: “You are only ever as good as your player recruitment and January was certainly a key time for us. We did some good business which helped us in our bid to win promotion.

“This window will be important to us although we are not sure how much player activity there will be at this moment in time. If we are able to do anything, we will need to make sure it is as good as it can be under the constraints.”

Howe’s comments come just days after Cherries chairman Eddie Mitchell told the Daily Echo that the club would be sticking rigidly to the financial fair play rules.

Cherries, in common with all their Championship rivals, must adhere to a set of guidelines which are in place to prevent clubs running up huge debts.

Clubs in the second tier are judged to be complying with financial fair play rules if they make a profit or an allowable level of loss.

Cherries reported a significant loss in the financial year ending July 2012 and will need to stay within certain limits in order to avoid sanctions being placed on the club.

Former manager Paul Groves made a number of signings last summer as Cherries looked to assemble a squad capable of challenging for promotion.

And although the club ultimately achieved its aim by securing runners-up spot in League One, a return to the second flight following a 23-year absence came at a price.

No fewer than seven players – Steve Fletcher, Mark Molesley, Lorenzo Davids, David James, Charlie Sheringham, Jon Meades and Gary Bowles – have either been paid up this season or did not have their contracts renewed.

Frank Demouge, the club’s marquee signing 12 months ago, was farmed out on loan to Dutch club Roda in January, while Wes Thomas and Stephane Zubar have also had spells away from the club. The trio, however, remain under contract to Cherries.

Howe was given the green light to bolster his squad in January with Matt Ritchie, Brett Pitman, Ryan Fraser and Ryan Allsop all completing permanent moves to the club, while Dan Seaborne came in on loan.