Owner Simon Sadler has defended his financial commitment to Blackpool, amid criticism from sections of the support.
Sadler took control of the Seasiders in June 2019, purchasing a 96.2% share from receivers after former owner Owen Oyston's reign ended in the High Court.
In a statement, Sadler said he had already invested £18m of his own money since the purchase, and expected to be funding another £5m this season.
"Then, as now, my motives were not financial," he said of his investment.
"It's this level of commitment that keeps Blackpool Football Club operational.
"It's this investment that has given us a likely top-six playing budget, and enables us to pay, for Kyle Joseph, the highest known transfer fee this year in League One."
Sadler, who was born and raised in Blackpool, has worked in asset management in Hong Kong since 2007.
Sales of players such as Jerry Yates and Josh Bowler, as well as the initial compensation package agreed for boss Neil Critchley when he previously left for Aston Villa, brought in finance to the club.
Some supporters have questioned the whereabouts of those funds, which has prompted Sadler to reference some of the spending of his predecessors - the details of which came up during the court hearings for the Oyston case.
"It's certainly not been spent on wedding venues or woolly mammoths," the statement continued.
"These incoming transfer fee payments are staggered over time but the monies so far received have contributed to the spend on the playing squad.
"Player trading and reinvesting a majority of the income from player sales back into the playing squad is a vital part of our strategy and combined with my personal investment helps us to pay meaningful transfer fees, source high-quality loan players and most importantly support a significantly higher wage bill than when we were last in this division."
Blackpool are 12th in League One after six games.