News of the decision was announced at the fans' forum on Monday evening when 300 supporters attended the event at the b2net Stadium.
It will mean a busy summer of rebuilding, with owner Dave Allen highlighting three key areas which need strengthening.
"We are not having any loan players next season. We will have 20 outfield players and two goalkeepers," said Allen.
"What we pay will put us in the top six of the teams next season. There are one or two very interesting names that we are going to try and get.
"We need a 20-goal striker, a quality midfielder and a quality centre-back who can play alongside Neal Trotman."
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