
Speaking to Michael Beardmore of the Walsall Advertiser, Smith said; "There's a budget there for me to use but I think it has been a little bit misconstrued. It's a competitive budget but no more than that.
"We've already got a number of players who are under contract here who have a big season ahead – and that squad has been built up with money from the sales of Jamie Paterson and Will Grigg over the past two years.
"There's the Wembley money that's being invested as well but we want to make sure that everything that we do at the club is sustainable.
"That will be what some of the extra money is earmarked for – that's what we did with the Paterson and Grigg money with the likes of Romaine Sawyers, Sam Mantom, Paul Downing, James Baxendale, extending their contracts.
"That's very important for the football club as what we don't want to be doing is throwing loads of money at people on one-year contracts and they walk at the end of it.
"I've got a lot of younger lads who should really be coming of age this season and it's a big season for them. The next few weeks will tell me an awful lot about them and how we can move forward this season."
"We've already got a number of players who are under contract here who have a big season ahead – and that squad has been built up with money from the sales of Jamie Paterson and Will Grigg over the past two years.
"There's the Wembley money that's being invested as well but we want to make sure that everything that we do at the club is sustainable.
"That will be what some of the extra money is earmarked for – that's what we did with the Paterson and Grigg money with the likes of Romaine Sawyers, Sam Mantom, Paul Downing, James Baxendale, extending their contracts.
"That's very important for the football club as what we don't want to be doing is throwing loads of money at people on one-year contracts and they walk at the end of it.
"I've got a lot of younger lads who should really be coming of age this season and it's a big season for them. The next few weeks will tell me an awful lot about them and how we can move forward this season."
SOURCE: MICHAEL BEARDMORE/WALSALL ADVERTISER