Steve Wharton, the Scunthorpe chairman, has indicated any signings during the January transfer window are only likely if players first leave the club.

The Iron have dropped firmly into a fight to stay in League One after failing to win a game in November or December, but opened 2012 with a 2-1 victory at Hartlepool United to keep two points above the drop zone.

Supporters have been understandably concerned at the form, and there is a wide belief from the stands that fresh blood is needed in the playing squad to provide a catalyst for a rise up the table.

Blue Square North side Stalybridge Celtic claim to have turned down an offer for promising 19-year-old striker Connor Jennings.

Wharton will find additional money to fund the signing of a talented "investment player" - a youngster who will have strong resale potential - but insisted any other signings can only come if current players are moved on.

"We haven't got any money. For us to bring players in, we have to get some players out," he told the Scunthorpe Telegraph.

"The only exception, as I've always said, is that we'll do our utmost to find extra money if we can find what I would term 'investment players'.

"They are young players who we believe have a good chance of developing at Scunthorpe and will help us improve, while at the same time could turn what we spend on them into a profit."