MILLWALL must strive to reduce their £8million losses despite rules on spending in the Championship being relaxed, according to chief executive Andy Ambler.
Second-tier clubs have voted to increase the limit on allowable annual losses from £5m to £13m – but Ambler insists the Lions will not start hemorrhaging cash just because they can.
Teams in violation of Financial Fair Play will be hit with transfer embargoes.
Before the new regulations kick in, Millwall expect to be banned from buying new players in January 2016 as a result of their over-spending this season.
"Putting the rules to one side, we should not be running this club at £8m losses every year," Ambler said.
"If we do that, John Berylson's investment will end up at £80m. We've got to find a strategy to increase revenue and get the best possible squad without spending too much money.
"The current squad is a big, big squad – there's no doubt about it. We have got too many players. The teams that do better in the long run are the ones with the smaller squads."
Under the new rules, clubs can post losses of £39m over three seasons.
"Nobody says you have to lose that money," Ambler added. "Last year, the club's cash losses were £8m – that's not an inconsiderable sum and put us right on the limit of the old rules.
"We just about get through based on our spending last season.
"But the limit for the current season is £6m – and as we are currently projected, we will trigger an embargo this time next year.
"We could sell a player or go on a big cup run, but that's what it looks like.
"So if John wants to spend £10m next season, we will have to do all of our business before January because then we'll be embargoed."
Ambler says that the overhaul of FFP does not make his job any easier.
"My job is to make sure there are no surprises and forecast where we are heading," he said. "I don't stop the manager from spending money.
"We knew that we would pass FFP for last year by the skin of our teeth and I took the calculated risk that the rules were going to change eventually.
"The worse case scenario is that we'll be embargoed for one transfer window – and that's not the end of the world."