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Fulham owner Khan vows to spend heavily after relegation

Shahid Khan bought Fulham last summer © Getty Images

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Fulham owner Shahid Khan has claimed he will spend heavily this summer in a bid to return his club to the Premier League.

In a move that flies in the face of the sentiment behind the Football League's Financial Fair Play initiative, Khan said next season was "not about balancing the books" and vowed to throw money at the squad as Fulham prepare for life in the Championship.

"This is not about balancing the books," Khan told the London Evening Standard . "I am committed and we are going to do whatever to get them back to the Premier League. [Relegation] is not what we wanted, but it is reality. What we have to do is build it for the long haul."

Khan also indicated that current manager Felix Magath would still be in charge next season despite failing to rescue Fulham from finishing 19th and dropping out of the top flight.

"We are going to do whatever it takes to put the best team on the field. I have talked to Felix and what we want to do is what is in the best interest of the team."

The Football League's new Financial Fair Play rules mean Fulham will be permitted a loss of £8 million next season. If they break the rules they would face a fine in they were promoted back to the Premier League or a transfer ban if they remained in the Championship.

Fulham received over £63m in TV payments last season and will continue to receive around £60m over the next four years in parachute payments.

Khan, who bought the club from Mohamed Al Fayed last summer, said he plans to rebuild the squad from the bottom up: "The club have great assets and great fan support. Now we have got to get the football side right, where you build it from the ground up and it is something that lasts a long time."

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