"We've got to do better next season. We've got to cut the wage bill and address the financial problems. Nevertheless, we have to do better. I've got to do better, the players have got to do better - everybody has got to do better.
"I won't be indulging on a multi-million pound spending spree in the summer. Maybe I can sign players for smallish fees, such as £100,000 or £200,000. Maybe. We'll have to wait and see.
"I was fortunate to manage this club when there was money to spend. I'm also happy to manage this club when there isn't any money to spend.
"We have to decide what we're going to do with the players who are out of contract.
"We also have to decide the numbers we want to work with and we have to see what the budget is.
"You can get a decent player in this league on a Bosman. You can build a good squad with free transfers. Some of my best signings have come on a Bosman.
"We will also be looking at loan signings, both short-term and long-term ones.
"After the end of August we won't be able to sign anyone until January, so we're going to be busy in August and probably in July too.
"We took Gary O'Neil on loan in September, but we won't be able to do that next season.
"I can't categorically say what's going to happen in the summer. No manager wants to sell his best players, but selling our best players is an option.
"I'm happy to manage Cardiff if players have to be sold. If that has to be done, then it has to be done.
"No one is saying, 'This player is going and that player is going.' But, as I've said many times before, our wage bill is too big and we have to address that."