TONY MOWBRAY is confident Middlesbrough will still make progress under his watch even if a summer of refinancing will be required if Premier League football does not return to Teesside next season.

Boro head for Watford tomorrow knowing only a defeat for Cardiff City at Crystal Palace will leave them in with a chance of sneaking in to the play-offs on the final day in the Championship.

And while hopes remain strong that they can reclaim a top six spot, Cardiff remain the favourites as they head in to the final round of fixtures.

Should Middlesbrough's attempts to return to the top-flight come to an end for another season, Mowbray is well aware of the need to further reduce the club's wage budget.

Despite accepting there will be significant changes to personnel next season with nine first team squad members out of contract, Mowbray is satisfied Middlesbrough would remain a force in the Championship - if that is the division they have to play in.

The former West Bromwich Albion boss said: "Recruitment will be key. There will have to be some little diamonds pinched from a beach of pebbles. If you use that as an analogy.

"That's your job. To find players for very little money who can make a huge impact. We have done that in the past, when we were at West Brom for example.

"(Graham) Dorrans was £125,000 from Livingston and won player of the year in the Championship. (Youssuf) Mulumbu plays every week in the Premier League and cost £175,000 from Paris St Germain. (Jonas) Olsson was 1m euros, yet plays every single week in a team that could finish in the top half of the Premier League.

"The job is to get out there and find those. If it's the Championship next year we know the budget will come down. That doesn't mean we will be worse off. It would mean we need to find good players on less money who can make a bigger impact."

Even if Middlesbrough can secure a play-off spot and seal a return to the Premier League through the end of season knock-out then Mowbray admits he will not be in a rush to splash the cash.

"Newly promoted teams, like those last year, don't tend to go straight to the diamond mine. QPR tried that last year a bit," said the Middlesbrough manager. "Norwich and Swansea didn't but have done particularly well.

"You keep the players you think can do a job in the Premier League and surround them with those that will help the culture you try to create. You don't necessarily have to go to the diamond shop to get that."

With the likes of Justin Hoyte, Tony McMahon and Matthew Bates among the extensive list of players due to become free agents in the summer, Mowbray knows decision time is looming.

If Middlesbrough's season ends at Vicarage Road tomorrow then Mowbray is planning on speaking with all of his squad on Monday, when he will be revealing decisions on new contracts.

With that in mind, he insists those involved at Watford could effectively be playing for their futures. He said: "Potentially it could be the last game for some of these players. I think there are ten players in total who are out of contract.

"There are some we feel that should go elsewhere with their career and others where there are financial expectations which probably won't meet what we will want to give.

"Budgets are coming down. It's a very difficult time for out of contract players to pitch where they want to be right across football. There is some talking to be done. The players are fully aware that if we make the Premier League then discussions over contracts might be a lot easier."

He added: "Money doesn't become such an issue for us if we go up. If we have players on Premier League salaries and we are in the Premier League then we will offer them a new deal."

Mowbray, who only has his captain Bates ruled out of action for tomorrow's finale, has also had to put pre-season plans on hold until he knows what sort of budget he has at his disposal.

He said: "We will be back in Monday regardless. That will be the day players are told what their summer programmes will be and I will sit down with those out of contract and give them my thoughts.

"That's what will happen if we don't make the play-offs. It will be a long summer. We are still in April and they will have a number of weeks off. I will tell them to go on holiday with their families or mates and then get ready and get fit."