Tony Adams is hoping to use the money generated from the sale of Lassana Diarra to bolster his squad.
The Portsmouth boss admits he was powerless to prevent the French international from discussing a potential switch to Real Madrid, with that deal now all set to be completed.
While Adams is disappointed to see a key man depart Fratton Park, he intends to put the transfer fee to good use.
He is hoping to bring in fresh faces during the impending Janaury transfer window, but insists that there is no rush and is prepared to wait until the summer if necessary to acquire the right targets.
"Real Madrid have come in with a magnificent offer and it's a massive club," he told Sky Sports.
"I wouldn't get in anyone's way. I never wanted to go as a player, I thought Arsenal was a big enough club. But these kids today they love their Spanish and Italian giants.
"Seriously, though, I would never get in the way of Lassana Diarra going to a fantastic football club.
"They have given us a substantial offer, so I'm delighted he has got the opportunity. It speaks volumes for Portsmouth Football Club that a club of our stature is getting these deals.
"It is a lot of money and I have been working night and day to try and find some reinforcements. I think I've got them, but you're never sure.
"In January it's always very difficult and it may be a case of doing a lot of business in the summer. But usually the prices are over-inflated in January so I'll be looking very carefully because I don't want to be taken for a ride.
"I want to spend the money wisely and it's there for me, every penny, and I'll make sure I get the right people to bolster the squad.
Adams added: "It's a difficult industry and there were areas of the squad I wanted to improve anyway.
"I want to get them sorted asap because we are in need of some recruitment."
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