Manager Steve Evans insists Crawley will never pay "ridiculous" wages again.
Reds have released winger Tony Scully, who was the highest paid player at the club.
The former Manchester City, QPR and Crystal Palace wideman had his contract cancelled by mutual consent after a long spell on the sidelines with a knee injury.
The Irishman arrived at Broadfield Stadium from Notts County in 2005 at a time when Crawley were paying big money following their switch to full-time football.
Scully was believed to be receiving a salary of around £1,200 a week, double the average wage of a typical Conference player, and was one of five players who stayed at the club when it was plunged into a financial crisis last year.
Evans said: "Tony was a great player when fit but he was on big money and that is not the road the club can go down.
"There was a time when players were getting paid ridiculous amounts but they have gone. You have to ask 'are you getting value for money'?
"With my manager's hat on I wanted to keep Tony but looking at the budget, I decided that we could do without him.
"That is the way we have to be so the club can be in a stronger position in the future."
Scully is the second player in a week to be released following the departure of striker Berlin Nlome-Ndebi.
Evans is now planning to bring in new additions when the transfer window opens next month.
He said: "Now Scully has gone we can afford to sign two or three players in January to make us stronger and bring our squad up to the number I want it to be."
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