DANNY Cowley has become the latest Sky Bet League One manager to admit 'crazy' spending is impacting recruitment.

Several third-tier bosses have expressed concern at the money being thrown around by certain clubs this summer, which Karl Robinson branded ‘ludicrous’ last month.

Portsmouth manager Cowley has already brought in eight new faces, but admitted his side could not match the spending power of some of their rivals.

And the former Lincoln City boss even suggested top clubs are offering double what they were just two years ago.

He told The News: “We have two options. We can sign players who aren’t good enough to take you where you want to go or you have to hold, wait and keep your nerve and hope more players become available and better value in the market. We hope that happens.

“It’s the only choice we have, because ultimately we can’t compete with some clubs in this division.

Read also: Oxford United squad numbers and why Steve Seddon picked 42

“You’re looking at the top end of the division this year and it’s gone crazy financially.

“I’ve lived this league with Lincoln two years ago and the top teams are paying double what they paid then.

“We’ve got brilliant owners who are doing things sustainably, which is absolutely the right thing to do.

“But when you do it in a sustainable way, you have to do it in an intelligent way.”

Cowley’s comments are similar to those of Robinson last month, with the Oxford United head coach claiming some League One clubs were offering ‘£10,000 a week to defenders’.

Read also: Karl Robinson on 'ludicrous' League One wages

Ipswich Town and Wigan Athletic, two clubs who are under new ownership, have noticeably splashed the cash and made some eye-catching signings this summer.

In recent days, Charlton Athletic boss Nigel Adkins and Rotherham United manager Paul Warne have both suggested high spending elsewhere means the transfer window has been slower than usual for most League One sides.

With 12 days until the campaign begins, United have made four summer signings – Marcus McGuane, Ryan Williams, Billy Bodin and Steve Seddon – compared to seven at the same stage of pre-season in 2020.

The U’s paid fees to sign McGuane and Seddon, but head coach Robinson admitted earlier in the summer that he would have to spend more than last year to compete with their rivals.

He said: “We have a transfer pot available which is brilliant, but we’re probably going to be in the same position in the spending league.

“We’re having to spend to stay anywhere near.

“There are teams in our league offering £10,000 a week to defenders and you’re thinking ‘this is ludicrous where this league is going’.

“We can’t get anywhere near this.”