THE question pondered for most of the transfer window has been whether Wanderers can afford to bolster their squad; now perhaps we should ask, what price if they don’t?

Never before has Neil Lennon’s squad looked so thinly-stretched as it did at Rotherham United on Tuesday night, nor the manager sound so urgent in his request for help.

Just five days remain in the transfer window to do anything about it, yet the manager’s prediction on whether he would get the chance to boost his squad still sounded rather theoretical.

If Chung-Yong Lee leaves for Crystal Palace he might get money to spend. If negotiations go well, he might be able to get one or two extra bodies on board.

There are no certainties these days as the club continue to scale down their financial outgoings, perhaps in the knowledge next season’s parachute payment will be their last from the Premier League.

But one might question whether a lack of investment at this point sends out the message that this season’s chase for the play-offs is over? Have they already set focus on rebuilding for a concerted push next season? Or are funds being diverted into securing what they have got, with such a large number of players out of contract?

Adam Le Fondre’s loan arrival is certainly the kind of deal that signals intent. Bringing the former Reading goal-getter on board is a hint that the Whites do still fancy their chances of gate-crashing the top six.

But Lennon knows full well he needs more – and with the treatment room still housing the likes of Mark Davies, Max Clayton, Craig Davies, Emile Heskey, Chung-Yong Lee and Zach Clough, the creative core has been ripped out of his Whites squad.

Effort has got them this far. At Anfield last weekend it was enough to contain some £129million of Premier League talent.

But it was evident in South Yorkshire that effort alone might not be enough to sustain the sort of progress an ambitious manager like Lennon demands.

While Josh Vela’s transition from youth teamer to first-team regular now looks complete, it seems a little more patience will be needed with the likes of Conor Wilkinson and Andy Kellett, who both found it tough going against Rotherham.

Lennon is also wary of placing too much pressure on the young shoulders of Zach Clough, regardless of his fantastic debut against Wigan Athletic in the FA Cup.

“Some of the players are running on fumes,” admitted the Northern Irishman on Tuesday night. “I’m proud of what they have given me in the last few weeks but we desperately need two or three more bodies on board.”

Wanderers have played down the importance of the transfer window in recent seasons, given that much of their business has been in the loan market.

The loan window reopens a week into February, rather negating the build-up which is bound to occur on Monday. But as Dougie Freedman and the club found out to their cost 12 months ago, a lack of activity in the transfer market can send out a negative message.

Lennon remarked a fortnight ago he had made contact with 27 different players about moving to Wanderers in the January window but as of yesterday, Le Fondre and Portuguese youngster Rochinha were the only two definite new arrivals.

The likes of Lewis Baker and Diego Fabbrini slipped through the net, while others such as Celtic’s Kris Commons and Norwich City’s Gary Hooper have been semi-courted by Wanderers in public without any success.

Emile Heskey and Eidur Gudjohnsen were brought in prior to the window, of course, but Lennon appears concerned with how much he is having to rely on the veteran strike pair, with matchdays coming thick and fast in league and cup.

There are 19 league games remaining this season and 57 points to play for. To finish in the top half of the table must be regarded as a success, considering the start made by the club – but make no mistake about it, Lennon’s sights are still fixed higher.

And considering the impressive start the former Celtic boss has made at the Macron Stadium, you would also assume his work has attracted interest from those above.