New boss Hutchings has also managed at Bradford and Wigan
Walsall owner Jeff Bonser has warned new manager Chris Hutchings that he will have to sell players to raise cash if he wants to strengthen his squad.
"I'd be less than honest if I said we're going to splash out into the transfer market, because we're not," Bonser told BBC WM.
"There is a facility for moving players around. Who knows? Somebody might come in with a bid for one of our players."
Centre-back Anthony Gerrard and keeper Clayton Ince are the likeliest targets.
Gerrard, 22, has been on the transfer list for most of the current campaign, and several Championship sides are reportedly keeping tabs on him.
"He's probably unhappy about being at Walsall," noted Bonser. "But he also knows that he's a professional and the better he does on the pitch, the more chance he's got of a move."
The Saddlers owner is reluctant to put a number on what it would cost for a club to prise Gerrard from the Banks's Stadium, but has admitted that he turned down a bid of �350,000 for the Merseysider from Southampton last summer.
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