Town reveal financial constraints
By Peter O`Rourke
Last Updated: 01/01/70 1:00am
The Portman Road outfit were badly hit in the wake of their relegation from The Premiership and the collapse of ITV Digital.
The club have been forced to offload a number of players, but Bowden revealed that they could receive some additional payments from some of the deals they did.
The Suffolk side sold Titus Bramble, Marcus Stewart and Jamie Clapham to steady the ship and it was feared more of the club's promising young stars could be sacrificed, but Bowden confirmed that the club rejected a bid from Newcastle for Darren Bent and Darren Ambrose.
"Sunderland paid £1,750, 000 for Marcus Stewart with a £250,000 bonus if he made over 40 appearances for them," Bowden told the club's official website. "Jamie Clapham's fee was £1,050,000 with a £300,000 bonus if Birmingham stayed up, or get relegated but go straight back up again.
"And Newcastle did make a £3m bid for Darren Bent, Darren Ambrose and Matt Bloomfield. After that was rejected they made it £3m just for the two Darrens."
Bowden also revealed that the club are unlikely to have much funds to spend next season should they win promotion back to The Premiership.
"The agreement with the creditors will almost certainly state that if there is any cash available in the short term it should form part of their payment," added Bowden.
"What that does is limit cash payments for transfers but not ongoing investments in player salaries.
"There will be a large number of players available on free transfers in the summer so having little cash available for actual transfer fees is not as bad as it might sound."