Shorey is one of the biggest names currently at Reading

Reading will sell Nicky Shorey if they receive an attractive offer for the 27-year-old England defender.

Manager Steve Coppell has been warned that salaries must be cut and players sold if he wants new faces after the club's relegation to the Championship.

Chief executive Nigel Howe told the Reading Evening Post: "Nicky has not been too happy for a long time.

"Let's hope somebody comes in with a good offer. If Steve trades well it should release enough funds."

Left-back Shorey cost Reading only �25,000 when he arrived from Leyton Orient in 2001 and has picked up two England caps.

He has been linked to West Ham, Aston Villa and Newcastle and is keen to remain in the top flight.

A �11m parachute payment will ease Reading's exit from the Premier League but Howe confirmed savings would still have to be made.

606: DEBATE As Coppell is staying I think only a few players will leave kieronRFC

"Nicky and a few others will be looked at as potential people to leave," he added.

Coppell has shelved plans to resign in the wake of the club dropping out of the top flight.

But Howe's message to the manager was that he can only recruit fresh talent by selling players already on the staff.

"He won't have money unless he sells. At the moment we are just trying to balance the budget," said Howe.

"The concern is to keep as many of the core squad together but Steve does want to reduce the squad so he is expecting to receive offers for players.

"If Steve wants to keep all the players on the same salaries, there won't be the release of funds.

"If he reduces the wage bill, he will have funds. We have got very highly paid players."