Kilmarnock chairman Michael Johnston has warned fans not to expect any of Steven Naismith's transfer fee to be spent on replacements.
Killie secured a guaranteed £2million from Rangers - plus a "healthy" percentage of any sell-on fee above that price - seconds before the transfer deadline last night.
But the money will go towards reducing the club's debt and not into the hands of boss Jim Jefferies.
Johnston said: "Jim knows and knew throughout the summer of transfer speculation that he wouldn't see any of the money other than the fact Steven's wage becomes available.
"If through injuries, we need to strengthen, it gives us more flexibility. But Jim's not going to be able to pay transfer fees or break the general wage structure.
"It is a major step in the process of debt reduction.
"Only just over two years since the club faced administration so we don't have the luxury of turning down £2million bids very often."
Johnston denied claims he had approached Rangers to resurrect a deal which had appeared dead earlier this month.
"That's not true," the Rugby Park chief said. "It took everybody by surprise. I wasn't expecting anything to happen.
"Andrew McCormick, Steven's agent, contacted me to say Rangers were interested in making a fresh bid."
Johnston defended his decision to sell Naismith at a stage when Jefferies was unable to bring in a replacement.
He had given his word to Naismith that a £2million bid would be accepted and feared the consequences of the 20-year-old following the lead of Rangers defender Andy Webster, who invoked a clause to leave Hearts a year before his contract ran out.
"There are obvious risks of holding on to an unhappy player," Johnston said.
"He had indicated a strong desire to move to Rangers and nowhere else.
"An improved contract offered last week was rejected earlier this week.
"Apart from injuries and loss of form we were aware of the Webster case and article 16 of FIFA's regulations.
"His contract expired in May 2010 but the protected period expired in March 2009 and that weighed heavily in our considerations. His value may have run down as we approached that cut-off point.
"We wish Steven the very best of luck."
Jefferies backed his chairman's decision and vowed to keep nurturing young talent.
"It has turned out a better deal for us," the Killie boss said. "It is guaranteed money, it's a £2million deal.
"It's good to be party to a young talent coming through. It is my job now to find another one without much money.
"It's my job to make sure we get someone in, maybe between now and the next transfer window I might be able to bring in a couple."