Blues legend Brian Talbot believes the club will have a battle on their hands to make the play-offs next season, despite a strong end to the current Championship season.

Talbot, recently inducted into the Hall of Fame at Portman Road, hailed Mick McCarthy for the “fantastic” job he has done in his first six months at Town, who announced an overall debt of almost £80m last month.

Reading and QPR are coming down from the Premier League and while the latter have reported debts of £89m, and will be hindered with a wage bill likely to exceed the £58m that was recorded in May last year, they do have the backing of two of the world’s richest men.

Financial Fair Play will restrict Rangers from spending more than they earn but owner Tony Fernandes is reportedly worth $615m while stakeholder Lakshmi Mittal has a personal wealth of $16bn.

Leeds United are another team that are set receive substantial investment for a Premier League push with their owners, GFH Capital, having sold 10 per cent of their stake to Bahrain-based International Investment Bank. Reading owner Anton Zingarevich, meanwhile, has stated he will give manager Nigel Adkins “all the tools he needs” as the Royals look for an immediate return to the top flight.

“The manager has done a fantastic job with the tools he has had and turned the club around with some brilliant results,” said Talbot, an FA Cup winner with the Blues in 1978, who played in the club’s glory years under Sir Bobby Robson.

“Maybe they will be looking towards the play-offs next season but the likes of QPR are coming down and it seems as though they will have money to spend, as it does Leeds United.

“Money talks and it’s all-important how much you have got to spend.”