HUDDERSFIELD Town are working on specific transfer targets – but it could be the end of the month before the Championship club’s work comes to fruition.

That’s the message from Huddersfield Town chief executive Nigel Clibbens as fans wait to see how the squad for the new campaign shapes up.

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But Clibbens, fresh from mingling with fellow chief executives at the Football League’s annual meeting, says the market is subdued.

He puts that down to the introduction of Financial Fair Play, which limits losses without penalty to £4m, and the general economic climate.

With the exception of the former Premier League clubs on parachute payments, he says most are having to cap or cut their budgets.

But Clibbens believes things will liven up as clubs start pre-season training, and current contracts come to an end.

“Things are as quiet as I’ve ever known,” said the former accountant and insolvency and business restructuring expert, who joined Town in 2008.

“But bear in mind many people are away on holiday, while there’s little point in signing too many players now because they are effectively being paid for doing nothing.

“In addition, clubs who are trying to sell players, and that’s not all that easy at the moment, are waiting to see what offers come in.”

Huddersfield Town, who need new frontmen and have made Norwich striker and former loanee James Vaughan a top target, start training a fortnight tomorrow, June 27.

Clibbens continued: “Most come back around then and it could kick-start things. Clubs signing players want them in to train and prepare while those letting them go want to clear the decks.”