Bury chairman Stewart Day says it was not a mistake to appoint Lee Clark as manager despite sacking him after just eight months in charge.
The Shakers appointed Clark in February after agreeing a compensation deal with Scottish Premiership side Kilmarnock.
But the League One club sacked the 45-year-old on Monday after only three wins in 16 league games.
"When Lee came in the remit was to keep us up, which he did. We got that right," Day told BBC Radio Manchester.
"This season we've been able to support Lee and we sold a lot of players in the summer which allowed us to reinvest the money back into the squad.
"Sometimes you might not get decisions right, but I think the appointment we made meant there was a lot of optimism in the summer."
Bury were beaten 1-0 by Doncaster Rovers in their last game before Clark's sacking, their fourth successive defeat.
"There were a lot of thoughts in the summer that we were going to try and be successful and I know the fans were excited by the signings we brought in," Day continued.
"For some reason it just hasn't materialised onto the pitch and to get consistent and positive results.
"We've lost 10 games out of 16 and picking up nine wins out of 33 games just isn't good enough for where we want to be so we've got to try and go forward and it's about looking for the next person we can bring into the club to do that."