STRETCHING OUT: Phoenix player Paul Ifill will go off contract at the end of the season.

Phoenix chairman Rob Morrison says the club's seven new owners are "open minded" about throwing cash at big-name players but the priority is establishing an academy and feeder team by the start of next season.

The Welnix consortium, which took the reins of the club from Terry Serepisos on season eve, have been low profile in their work during the first month of the A-League.

The Wellington high-fliers are mapping out a five-year blueprint for success and Morrison said the first month had been about getting a feel for running a football club and "planning for the future rather than trying to make kneejerk responses".

With the right business model Morrison thinks the Phoenix can eventually turn a profit and he is comfortable with the work of chief executive Nathan Greenham and coach Ricki Herbert.

A new Phoenix board is close to being established and it will be a mix of Welnix members and independent "football experts".

Considering the circumstances the Phoenix have made a decent start to the season and lie seventh after four games, although many fans are clamouring for a star striker.

Morrison pointed out the Phoenix's first-choice XI was "actually a good team" but was "open minded" about making a move for a big gun during the January transfer window.

However, Harry Kewell and Brett Emerton's underwhelming efforts in the A-League so far – compared with Ange Postecoglou's more thrifty but brilliant Brisbane Roar – have not escaped Morrison's attention.

"There needs to be a logic and a system behind spending money," Morrison said.

"We want to start identifying young players and building talent through an academy system and feeder team, because longer-term that makes a lot more sense in terms of building a sustainable football club. The clubs that are doing best aren't the clubs who are actually spending the most money at the moment. We've got an open mind, hopefully the fans can have an open mind as well."

Morrison was confident an academy and feeder team would be up and running by next season and there was a possibility it could play in the ASB Premiership, although that would require approval from New Zealand Football.

The long-term goal is to base the club's entire operation at Newtown Park and improve the currently modest training facilities.

In terms of tangible developments this season, Morrison said there would be a boost to the currently skinny staffing numbers, both on the footballing and administration sides.

While it had been a lot of hard work, Morrison said he was enjoying the challenge and was at Westpac Stadium for the club's 2-1 loss to Melbourne Victory on Sunday.

"Just like any other fan you get frustrated when we miss chances and with some of the refereeing calls. It's an up and down experience."

Morrison has Herbert singing off the same song sheet as the club tries to balance this season's goal of competitiveness with its more lofty long-term ambition.

There are 12 Phoenix players off contract at the end of the season – including Paul Ifill, Manny Muscat and Mark Paston – and rival A-League clubs now have the green light to approach and sign players for 2012-13 and beyond.

Herbert said he would start talking to players "with some urgency" to ward off poachers.

He was reluctant to discuss specific players but said he wanted to retain impressive Spanish playmaker Dani Sanchez while American utility Alex Smith's short-term contract was likely to be extended until the end of the season.

Where the players stand

Phoenix players off contract at the end of the season:

Paul Ifill, Manny Muscat, Mark Paston, Chris Greenacre, Vince Lia, Dani Sanchez, Tony Warner, Daniel, Nick Ward, Niko Tsattalios, Brent Griffiths, Cameron Lindsay

On the books for 2012-2013:

Andrew Durante, Ben Sigmund, Tony Lochhead, Jimmy Downey, Tim Brown, Leo Bertos, Lucas Pantelis, Mirjan Pavlovic