Cheltenham chairman Paul Baker says that revenues from the club's recent FA Cup run enabled the side to capture recent signing Jermaine McGlashan.
The 23-year-old midfielder arrived from League Two rivals Aldershot for an undisclosed fee last week.
But Baker told BBC Radio Gloucestershire: "It was a five-figure fee. It's a fee I would have never expected us to be paying.
"The lion's share has come from the FA Cup run."
He added: "It just shows that the club is in a much better state now and we're not going to let this season tail off."
The Robins chairman says the money has also been used to substantially reduce debts, and there could be more money for boss Mark Yates to further strengthen the side.
"With the FA Cup run we've had and gates being better than average we've been in a fantastic position this year," Baker said.
"There is another player who is seriously interesting Mark at the moment. That will be a young quality player in a very important position. We've had discussions and we'll see where that one goes."
Baker also confirmed that the club were in talks over the futures of Yates and assistant manager Neil Howarth.
"We had a really good meeting with Mark and Neil about their contracts," he said. "They are more important than any one player.
"It's important the board focuses on Mark and Neil to make sure they're happy and make sure that we can extend their contracts. I'm very positive it will happen, they're both very happy here.
"We're going to support the manager and invest in quality players - and the sort of players that might command a fee themselves, so that we can hopefully move them on for a much higher fee."