JEREMY Peace says Albion are aiming to 'evolve and strengthen' the playing squad during the January transfer window.

The Baggies chairman has confirmed Tony Mowbray will be able to reshape his squad via the loan market or spending funds raised from player sales.

Albion spent £23million on new recruits in the summer and Peace says the club's policy of using the winter window to 'top up' as cover for injuries and suspensions will continue - especially in the current world financial climate.

"Year after year, what we try to do here is equip ourselves for the full season in the summer," he said.

"We start off the season on zero points when we're at our most attractive in terms of trying to get the right players in.

"We've always said January is mainly for topping up.

"It's to cover for injuries, like in the case of Ishmael Miller, or players who are close to suspension.

"There also might be certain weaknesses in the squad which become more apparent as the season wears on.

"Undergoing a full-scale buying operation in January is always very difficult because prices tend to get inflated.

"I would think the market will be relatively quiet this year given the economic environment.

"Our spending on transfers in the summer window was in the top half of clubs in the Premier League.

"In terms of our fellow-promoted teams, we spent slightly more than Stoke on transfer fees and we certainly spent more than Hull.

"Regarding the wage bill, promoted clubs will always have the lowest because, compared to the lowest Premier League club, their revenue is more than £20m less if they've had a parachute payment and more than £30m less if they haven't.

"But our wage bill is comparable with those of Stoke and Hull.

"We tried to get the right quality of player here by spending the money in the summer to equip us for the season.

"The manager has already stated many, many times what his thoughts are on the window. They are to top the squad up with loans, which I think is a very sensible course of action.

"We've talked about evolving and strengthening the squad for the second half of the season and we have to make sure we bring the right sort of quality player here."

Peace also stated he will not jeopardise the club's future - especially in light of the credit crunch.

And he is pleased with the progress the club's scouting system has made over the last year, which he hopes will enable the Baggies to get value for money in January.

"In terms of the window, we're not badly placed regarding lists of players we've researched, can have a look at and who will hopefully strengthen the squad," added Peace.

"Our Sporting & Technical Director, Dan Ashworth, has done very well in the space of a year to improve the processes we now have in place for the recruitment of players.

"The manager has made his comments about strikers and defensive midfield players and we'll see where that takes us.

"Since the summer, there has been economic meltdown in the financial markets.

"I think a football club, at some stage, will be affected by this and I want to make sure it's not West Bromwich Albion.

"I think we run things well and we have to live within our means.

"We will endeavour to help certain players who have been very much on the fringes to find new clubs which in turn would enable us to reinvest the proceeds and wage savings into the squad.

"I think we have to keep the size of our squad relatively lean whilst allowing cover for injuries like to Ishmael Miller to give us the best opportunity of staying in the division.

"If that doesn't work out, the club will still be intact and able to give it another go next season.

"If the worst doesn't happen, and we will be doing everything within our power to stay in the division, we'll have a good platform to continue at this level next season."

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