Speaking to the East Anglian Daily Times the former Everton, Oldham and Manchester City boss said: "We still have a lot of housekeeping to do in order to bring the wage bill down further. Things will be a bit clearer in 10 days or so when we know for sure who is here and who has gone.
"We have contingency plans and I have earmarked certain players but none from the tournament. If we had made it into the Premiership, going to Portugal would have been ideal for scouting but now it has just been something of a busman's holiday."