Paul Lambert has paid credit to the owners and staff at the club after the announcement that Rovers have had their Financial Fair Play sanctions lifted.
The Rovers boss praised the amount of work that has gone on behind the scenes to enable the football club to come out of the embargo.
Whilst Lambert will now be allowed to add to his playing squad when the January transfer window opens, he's cautioned that being free of the restrictions doesn't mean there'll suddenly be millions at his disposal to spend.
"I think everybody behind the scenes, the board, staff and especially the owners deserve a lot of credit for it," said Lambert.
"It is a building block, it is one little stage in trying to rebuild this club.
"I think it is really important to get over, to the fans especially, to say we won't be able to spend massive amounts. It doesn't mean that now we are out of the embargo we can go and spend millions and millions, because one thing is for sure, we certainly don't want to be in this position ever again.
"That is why Gary Bowyer deserves a lot of credit for stabilising it. Everybody now can look to the future now and say okay where do we start now? Where does Blackburn Rovers actually begin to rebuild? And today is the day to start that.
"If we had any aspirations to get out of the league then it had to happen. We had to have the scope of competing in this division and not just be a mid-table team. You look at the teams in the divison and they are all big spenders. There is so much competition in this division that you have to be bang at it every week.
"This squad has to be strong and to ensure you have a strong squad you need to be able to bring in players that you think you can do it."