BLACKBURN manager Mark Hughes has admitted he would only welcome a takeover this summer if it meant he had more cash to spend on new players.

If Rovers are to step up to the next level over the next couple of seasons, or even maintain their present position as a top-half Premier League force, then Hughes believes it is imperative the club finds a fresh source of investment.

Sportswear supremo Chris Ronnie is the latest figure to be linked with a possible takeover bid, and the Lancashire Telegraph understands there IS some interest from the JJB chief executive, although he has yet to make his intentions clear through the official channels.

However, Hughes believes any would-be investor must have the financial means to make a significant difference on the pitch, otherwise the club would be better off keeping the status quo.

The Rovers chief, whose side face Portsmouth at Fratton Park tomorrow, said: "It's common knowledge the club has been up for sale for quite some time.

"People have expressed interest but the view of the trustees is there is no point selling to people who will just acquire the club and not take it forward.

"We may as well keep the status quo and stay as we are (in that instance).

"What we need is someone to come in and take it forward, and that means investment in the team.

"Obviously, as we speak, no-one has been able to give those assurances, that the club will be acquired, and there will be investment in the team as well.

"We are okay as we are at the moment, but it will become more difficult in the seasons to come if we don't invest.

"So we'll just have to wait and see what happens."

With big city clubs like Newcastle, Tottenham and Aston Villa set to spend big once again this summer, Hughes concedes it is becoming harder and harder for town clubs such as Rovers to compete.

Last summer, Hughes spent just £4m on new players - the lowest outlay by any manager in the Premier League - but if he and the Rovers board are to continue moving the club forwards over the next couple of seasons then both parties acknowledge the need for more significant investment in the team.

"It hasn't taken a great amount of money to get to where we are at the moment," said the Rovers chief.

"But if we are saying the next level is consistent UEFA qualification and the Champions League then yes, that will take a huge amount (of investment).

"At the moment we are an established top-10 Premier League side, and it will require investment to ensure we remain so.

"We are okay at the moment but, year on year, it will become more difficult, and I think the club and the chairman recognise that, which is why we are looking for the investment that will take us on."

In the meantime, until a new investor steps forward, Hughes insists it's business as usual, and he will continue to cut his cloth accordingly, even though it leaves him at a disadvantage to rivals like Harry Redknapp, who was able to bolster his squad in January with the big-money signings of Jermain Defoe and Lassana Diarra.

"When you've got a rich benefactor, who can invest in the vehicle he has acquired, it does help," added Hughes.

"I wouldn't say there's a frustration, it's more an acceptance that that is going to happen.

"You can't really worry about the situations at other clubs, you've really got to just make sure you maximise the opportunities that your own club, and your own team, can have.

"That means working hard with the players that you have and making them better, and making sure you get the maximum out of them.

"We've done exceptionally well in the transfer market and who is to say, given more money, we would do as well? We might well make more mistakes, who knows?

"But I'd like to be given the opportunity in fairness."