Rob Baxter says he has the funds to add to his Exeter squad this season should the right player become available.

The Chiefs have had their worst-ever start to a Premiership season after five successive defeats, including last Friday's reverse at Newcastle Falcons who had gone 25 games without victory.

A sixth loss at home to Harlequins on Sunday would set a new club record for their longest losing run in the top flight.

Exeter added Argentina international forward Franco Molina earlier this month as cover for injuries to Dafydd Jenkins and Lewis Pearson.

"The discussions I've had with Tony (Rowe) the CEO, we have got an amount that we could invest this season for that player who we would go, 'this is a key area, this guy will make the difference; he's the right experience, he's the right guy to come in and make a change' we could do that," Baxter said.

"Our feeling is business-wise things are on the up now, so our plan is our investment levels in the squad and in our playing side will be going up from next season onwards.

"So the future, that part of it is looking OK. What we have to do is we have to do the best with what we've got now, and we're not doing the best with what we've got now."

Exeter have seen a host of internationals and seasoned players leave the club over the past 18 months.

Jack Nowell, Luke Cowan-Dickie, Stuart Hogg, Dave Ewers and the Simmonds brothers are amongst the names that have either moved to different teams - mainly in France - or retired.

It saw a new-look young side impress many people last season as players such as Immanuel Feyi-Waboso, Greg Fisilau and Jenkins took on greater roles in the side.

Those young players - with experienced help from Henry Slade, Scott Sio and Jack Yeandle - exceeded expectations in 2023-24 with a seventh-placed finish and hopes of making the top four until the final day of the season.

Baxter says the club has had to curb its spending as it works its way out of the financial problems caused by the Covid-19 pandemic, which is now having a ripple effect on the team this season.

"We've spent a little more this year than last year, but we're miles off the salary cap," he said.

"We said coming out of Covid, 'we're a member's club, we have to run as a profit-making business'.

"We can't just run forever as a loss-making business because that's illegal, our accountants can't say we're a going concern, we have to make those decisions.

"We've done that. Some of that is to blame for where we are, but you can't put that as all of the problem.

"We've got to develop us as a group and as individual players and how we play, we've just got to develop quicker than we have.

"I'm honest with you, the budgetary thing has contributed more this year than last year I think, because last year you have that freshness and that excitement and that energy that just comes with a new group, particularly a load of new guys getting new opportunities that are just incredible.

"Last year was exciting and it was great, this year is a bit less exciting in some ways, because it's just not so new and fresh.

"We've not probably got quite enough players who rolled up their sleeves and went 'right now the hard work genuinely begins.'

"That's the bit that we've got to shift, because once one bit of success is never enough that's when you become that really strong side. That's the bit we haven't found this season and that's the bit we've got to find."