Financial prudence has been a priority for Dick Knight throughout his reign as Albion chairman.

Good housekeeping has enabled the Seagulls to just about keep their heads above water, in spite of no permanent home and the prohibitive costs of playing at Withdean.

Knight's tight fiscal policy is now being endorsed as the Football League forces other clubs with scant regard for spending restraint to fall into line.

A salary cap comes into force for Second Division clubs next season.

They will be limited to spending 60 per cent of turnover on players' wages, just as Division Three clubs have been this season.

The restriction would also have applied to the First Division next season were it not for the fact that a number need more time to cut their cloth accordingly.

Knight has been a step ahead of the game. The new contracts negotiated with the nucleus of the squad two summers ago incorporated a return to Division Two wage levels in the event of relegation.

In the last two seasons Albion's wages to turnover ratio has been just under 50 per cent, comfortably below the League's new limit.

Knight said: "With our financial situation we have always applied good housekeeping to all parts of the club's finances.

"When we went to Division One there were additonal revenues last season which we took into account. The playing budget went up but we still applied a salary cap.

"There are clubs who have actually gone over 100 per cent of their revenue just on salaries, which has led clubs like Leeds to the position they are in.

"It makes infinite sense to balance your books so that you are not spending money which you haven't got. That has caused so many problems to so many clubs.

"From the moment I took over we imposed some sensible financial disciplines. I am glad that all of football is now seeing that common sense."

When the ITV Digital deal collapsed, the folly of lucrative long-term contracts was exposed.

Many clubs had committed themselves to paying out money they had not received when the rug was pulled from under their feet.

Albion avoided the trap. "We had our own self-imposed disciplines because of the high cost of playing at Withdean," said Knight.

"Fifty-one per cent of our gate receipts go in putting on a game, compared to the average of ten per cent, let alone the search for a new stadium. Between the two projects we have spent over £5 million."

The League are taking steps to ensure the mistakes made by others are not repeated.

Chairman Sir Brian Mawhinney said: "We have already discussed with clubs our intention to extend the monitoring of budgets.

"Currently, only clubs that have been in administration have to have their business plans approved by the Football League. We would like to extend this process to cover the plans of all our clubs."

The Premiership is not immune to the whiff of financial reality. Television revenue will not be maintained at such a giddy height once Sky surrender their exclusivity.

The All Party Parliamentary Football Group has proposed a salary cap for the Premiership as well.

Knight accepts this would not work, as it would deter foreign stars and dampen the enthusiasm of the TV companies.

Another recommendation from the All Party Group, to re-distribute wealth from the rich to the poor with a return to shared gate receipts, would certainly benefit Albion while they are stuck at Withdean.

Knight said: "It was actually the Manchester Uniteds and Liverpools who stopped it and when the Premiership came in it was rubber-stamped that the home team keeps all the gate receipts.

"The proposal has not been seriously debated and it is not a priority as far as League clubs are concerned.

"Interestingly, though, we would have been far better off as a club last season in Division One if gate-sharing had been applicable."

The League's new salary rules will narrow the gap between the haves and have nots but the playing field can never be completely level.

"You will still have discrepancies with clubs who have larger revenues," Knight said.

"Take Hull for instance in Division Three. They are enjoying the benefits of their wonderful new stadium.

"They have always been well supported and were getting 8-9,000. Now they are averaging just under 20,000 and that gives them more to play with."

So will Albion if the MP for Hull, Deputy Prime Minister John Prescott, says yes to Falmer.