The Leeds United chief admits he is not sure what the financial situation at Elland Road will dictate in terms of transfer activity, as the bid to bring Atletico PR star Kleberson to Yorkshire is a long way down the line, but it is anticipated that a sale is required to off-set the expenditure.
That exit was due to be Fowler but the England marksman rejected a £7 million switch to Manchester City, sparking talk in the local media that Woodgate would now instead be sacrificed by being sold to admirers Newcastle United.
However, the classy defender now faces six weeks on the sidelines due to a thigh strain, ensuring he is definitely staying put.
"I am delighted that Robbie is back here," enthused Venables. "I am sure the fans are and the players are too.
"I did not want to sell him in the first place.
"I know the situation of the club and this is what has unravelled since I got here.
"The problems have to be attended to, and it's unfortunate, but that's the way it is.
"I don't know if Robbie was really that keen to go there, at the beginning.
"He went there, as it was his right to do that, but he changed his mind."
The chase for Kleberson is still on, despite the fact that Atletico PR claim the deal is on hold, but the situation is a little up in the air.
"I will be speaking to the chairman today," added Venables. "(Director) David Walker has returned from Brazil and will be keeping us both up-to-date."
