BORO have learned sharp lessons in the transfer market over the years when mistakes have been made in buying and selling.
That was the view expressed by chairman Steve Gibson at the recent Premier League Coaches Conference held at the Rockliffe complex.
"When I look back at the last time we were in the Premier League we got some things wrong," he admitted.
"We got our recruitment wrong and we let some players go that shouldn't have gone and replaced them at greater cost but with lesser players.
"We lost Lee Cattermole at the wrong time. Lee was quite a character and needed to be managed quite strongly and I wish we never let Lee go, and one or two others we perhaps shouldn't have let go at that time.
"Our recruitment wasn't as good as it could have been and I think we have addressed that, but it's still difficult to get the right players.
"You're asking a lot of a player to pick up and move his family to new faces in a dressing room, different coaching methods different fitness methods and it doesn't always work.
"Sometimes a player can be at a club that's made for him, but he doesn't know that until he's gone and we've had one or two players who were better for us, and you have players who have left us and were better where they've gone.
"A lot of the work has been done in terms of recruitment for next season and thankfully we can press ahead with plan A. We know our targets and we can start that process.
"Can we compete again? Yeah we have some very exciting youngsters, Ben, Ben Gibson, is a really exciting prospect for the Premier League. Is he up to it? He tells me he is, we will know by this time next year.
"We are a club with no debt, we own the stadium and we own the training ground. We'll have to make some investment in the stadium, a lot has changed in the seven years we have been out of the Premier League.
"So there will be a small investment in that, but other than that every penny we've got will be to improve the squad."
When asked which team he was most looking forward to meeting again, Mr Gibson said: "Most clubs in this league are fantastic. There's the obvious that stands out, Man Utd where we are always welcomed by Sir Bobby Charlton, lovely, lovely people there - we always enjoy Chelsea, we always enjoy Arsenal, my personal favourite though is Everton because I love the chairman (Bill Kenwright) there, but they are all great clubs. Going down to Bournemouth too, Jeff Mostyn is a great character.
"We're delighted to be back, but we're back to compete."