PAOLO Di Canio has revealed that he turned down the chance to sign a “very good player” for Swindon this summer because of the amount of money required to seal the deal, as he emphasised that he will not break the bank in pursuit of back to back promotions.

Town have yet to formally complete any transfer business since the end of last season, although Di Canio has stressed that he is close to finalising two or three signings as he builds a squad capable of challenging for elevation from League One.

Swindon recently failed in their attempts to lure Lee Holmes to the County Ground, with the winger opting instead to join Preston on a permanent basis, but Di Canio did not name the individual he was unwilling to bring in due to budgetary constraints.

And the Italian insisted he will not risk the club’s medium and long-term futures for the sake of one or two luxuries on his playing staff.

“It’s obvious that we have to increase the wages because in League One a player who has already won League One, already played in the Championship - they join Swindon,” he said.

“Because it’s a big name, there is a big ambition but big ambition goes close to the wages in such a level.

“But we don’t make crazy negotiations. Already I had the chance to bring one very good player but the amount of money was too much for the budget I’ve got because I didn’t want to break not only the budget but also the atmosphere.

“The other guys that will join us, the people will know they will have basic wages higher compared to last year but that is normal football but not crazy because also our main players increase their wages.

“They are the right wages for a player, a very good player for this league, can have if you want to win the league.”

Di Canio moved to put to bed rumours regarding Town’s overall budget for the 2012/13 campaign, reassuring fans that the total he has to play with is more than adequate at Swindon’s new level.

“About the rumours that sometimes I’ve heard, the people don’t know what they’re talking about with the amount we’ve got to spend - five (million), four, three, four,” he said.

“What we have to buy players and pay players is a very good amount of money for this league and we can work well, but it doesn’t include the money for the players we’ve got.

“Altogether now we have to work for the exit because we have to send out some.

“More than some, maybe five or six at least, and have more money to bring in the players that I need.

“Otherwise, I can bring with the money I can spend approximately only five players, and six if I’m lucky.”