EFL boss says 'stupid money' is being 'bandied about' but summer transfer market is 'slow'

New Swindon Town manager Michael Flynn says the summer transfer market has been 'slow' despite 'stupid money' being 'bandied about' by some clubs.

The former Walsall and Newport boss, who took over at Swindon in May following the sacking of Jody Morris, has made only one signing this summer, goalkeeper Murphy Mahoney on a season-long loan from Queens Park Rangers.

It’s been a similar story for Northampton, who have brought in Kieron Bowie and Patrick Brough, and like Jon Brady, Flynn does not intend to get sucked into paying over the odds with the season still almost a month away.

"It's got to be completely right and I've got a good core of 15, 16 players, so it's got to be right. I'm not going to rush into it," Flynn told BBC Radio Wiltshire.

"I'm not going to pay stupid money, which is being bandied about, because we've got to put the best interests of the club first and foremost and we're doing a good job of that."

Flynn believes there are a number of reasons why the transfer market has been slow to get going for a lot of clubs in League One and League Two. Even Wrexham and Stockport, two clubs with big budgets for the level, have only signed a couple of players between them.

Flynn added: "Agents fees have gone up, wages have gone up, geography, some would rather stay north than come south, some would rather stay more south than come to the south west. It's not through a lack of trying, we're working hard.

"The market is still quite slow. If you speak to agents left, right an centre, it is quite slow. You have a look at Wrexham, Stockport even – the big spenders – they haven't really gone over the top yet.

"It goes to say that they're quite happy with their squad or the right player hasn't come up and at the minute we haven't been able to get the right one over the line."