Wolves chief executive Jez Moxey has warned of the “brutal business” of the Premier League after admitting clubs can “throw the kitchen sink” at survival only to fail.

Moxey watched with interest at the weekend as big-spending Newcastle and Middlesbrough dropped out of the Premier League, despite lavishing multi millions of pounds on transfer fees and wage bills.

The Magpies are believed to have more than nine players on £50,000 a week or more, while Boro’s club record £13million signing Afonso Alves has flopped.

Wolves, who finished the season with their entire squad on less than £10,000 a week, will be spending far less than the two relegated north east clubs this summer – but they aim to be wiser.

Moxey said: “If you get it wrong, it can be a brutal business – we know that ourselves, having got relegated when we first went up six years ago.

“What Newcastle’s situation proves more than anything is that it doesn’t matter how much money you throw at things, you can still go down.

“You can throw the kitchen sink at it and still get it wrong.

“Middlesbrough have spent a lot of money too – Afonso Alves cost them £13million and they have gone down. That just shows the enormity of the task we’ve got.

“It’s not just about money, it’s about a whole lot of other factors.

“You only have to look at what’s happened eight miles down the road to see how difficult it is for clubs.

“They have been trying to make it work, but they have been up and down in doing so.

“I think that (Albion) is a worthy comparison with ourselves. It shows no one has a divine right to remain in the Premier League.”

Moxey insists Wolves will continue to go quietly about their business. trying to add to their reputation of acting smartly in the marketplace by getting maximum value for money.

He said: “We know we need to invest finance to improve this team. We will do – but we don’t shout from the rooftops about it.

“We keep it very private and just get on with it. We need to bring in some experienced players.

“Perhaps the players we brought in last time weren’t good enough, clearly, because we were relegated in bottom place.”