Pompey are one of the sides being tipped by the bookies to challenge at the top of League One next season, but they have endured a difficult start to the transfer window thus far.
The News report that Portsmouth’s budget this season will be a reduced one, while manager Cowley has admitted that a number of players currently on the books are eating up a large chunk of that allowance.
But while bluntly admitting that it could be a challenging window for Pompey, the former Lincoln City boss is keen to stick to the plan he has put together.
"We do have some challenges because of the amount of players we have to sign and the amount of money available,” said Cowley, speaking to The News.
“We have a lot to do, we know exactly what we’ve got to do and we’ve got a plan - a clear plan.
“We’re working towards that plan and we won’t deviate from it.
"We want to get the best players possible. We’ve identified those, we know who we want and the type of players we want. We know once we get certain positions in it will give us much more clarity.
"I see that we’ve got a competitive budget.
“What you have to remember is we have players in the building who are taking up a significant amount of that competitive budget.
“Let me tell you, any manager coming into a club will inherit players,
“When you talk about budgets it’s not what money you have, it’s ultimately what’s at your disposal - what money you actually have to spend.”
A number of League One clubs look set to splash the cash this summer – with Ipswich big spenders early in the window.
Indeed, one third tier manager has claimed that wages of £10,000 per week are being offered by some sides during the trading period.