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Exeter City will strengthen other areas of their squad rather than directly replace winger Joel Randall.

The 21-year-old moved to Championship side Peterborough United this week for a fee in excess of £1m.

"As first-team manager when you lose a good player of course you want to be knocking on the door saying 'I want this amount of money for signing new players'," manager Matt Taylor said.

"But we don't need direct replacements for Joel," he told ´óÏó´«Ã½ Sport.

"We need other players in different positions to strengthen the squad and that's something we've been working to before the start of this week and before Joel's departure.

"Whatever the board decides in relation to the funds that came in at the start of the week then so be it. Every transfer fee that comes in, the budget is always strengthened.

"We're in a really strong position at this moment in time, but you can't just spend the money for the sake of it, you've got to bring in quality and if you are going to spend money then you want players that are going to make the team better on a Saturday afternoon."

Randall was the fourth player to leave Exeter for a fee in excess of £1m since the start of 2015, with reports that former teammate Josh Key is the subject of similar sized bids from Sunderland.

Midfielder Key, 21, broke onto the first team scene last season alongside Randall, but Taylor says the club has still to receive a bid that meets their valuation.

"Until a club gets even close to those figures where we value our players it's not even worth a discussion," Taylor added to ´óÏó´«Ã½ Sport.

"Josh knows that, his agent knows that and the bidding clubs know that as well - they can keep on coming back and forth as long as they want, it's not time wasting, but it's a null point.

"We've got our valuation of our player, our valuations are flexible because the market can always change, but Josh has got two years left on his contract, Joel had a year left on his, and Josh still has a lot of game time hopefully within our ranks."