Southampton have insisted they do not need to sell their prized assets despite owing £27million in transfer fees.
The St Mary's Stadium outfit released their financial figures for 2012-13 on Monday.
In addition to revealing the club had operated at a loss of £7.1m, the figures showed that Southampton will owe £27m in outstanding transfer fees from the end of June, the large majority of which must be paid next season.
Southampton have invested heavily since securing a return to the top flight in 2012, with Jay Rodriguez, Gaston Ramirez, Dejan Lovren, Victor Wanyama and Pablo Daniel Osvaldo all arriving for substantial amounts.
Osvaldo looks unlikely to play for the club again after a training-ground incident, and was loaned to Juventus in January with a view to a permanent move.
Although the big-money arrivals have yet to be off-set by any significant sales, Southampton insist star names such as Adam Lallana and Luke Shaw will not be used to balance the books.
"The most important point is that we are in a position where we do not need to sell any player (manager) Mauricio (Pochettino) wants to keep," club director Hans Hofstetter told BBC Radio Solent .
"We have a very strong squad and we are still in a situation where we are free enough to act quickly if quick action is asked from us."
Chief executive Gareth Rogers believes the figures are reasonable given Southampton's rapid rise through the divisions in recent seasons, and their desire to maintain a lofty position in the league pyramid.
"The financial results reflect the first full year in the Barclays Premier League and clearly show the impact of promotion two years ago," Rogers said on Southampton's official website.
"The club has risen quickly in a short period.
"With the first phase of the training ground due to open this summer, academy graduates continuing to progress into the first team, a healthy operating profit position and a strong ownership combined and balanced board we are provided with an excellent foundation from which the club as a whole can continue to grow."
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