With a £6.6m fee agreed, albeit reluctantly, with Chelsea for Joe, Trevor says:
"Joe has given everything to the club and wishes us every success; he hopes the fans will follow his career with interest and I don't think anyone who saw him play last year will say anything other than Joe has given his best for the club.
"The reality is he only had one year to go on his contract so next summer he goes for nothing; last summer we definitely tried to get him to extend his contract, but he made it clear he didn't want to as he wanted to get Champions' League football which he felt would help his England career.
"Naturally we couldn't offer that and when we went down the situation was even worse - but the fact is if we had still been in the Premiership Joe still wouldn't have extended his contract."
Trevor feels the transfer represents good value in a depressed market and adds:
"From a financial point of view when you look at all the other clubs and what they are doing, moving players on rather than letting a Sol Campbell situation develop where the player goes for nothing, it was a case of if we did get what we thought was a realistic offer we probably had to take it.
"Joe has got the move he wanted to try and further his international career, but having said all that it is a sad situation because we all have a lot of affinity to him.
"There was X amount we needed to get in and the key factor is that now the deal has been done there is no need for further deals.
"We do need to get people in but, realistically, that will be loan deals from Premiership clubs; the dilemma is that the transfer window does not shut until the end of August and players at Premiership clubs are waiting to see where they are in the pecking order at their clubs and whether they want to move on or not.
"But we are thin on the ground and we need, three, four, or five players in the next month after the eight left at the end of the season.
"We need players of the quality that can give this club the chance of achieving our aim which is to bounce back at the first attempt."
Trevor insists that Jermain Defoe does not have to leave and adds:
"There has been lots of speculation but from our point of view, the financial aspect is such that there is no need to do any other deals.
"We want to bring in players that will support the ones that are here now.
"We know there will be speculation until the window shuts but I read some report today that said we were in financial meltdown, which is absolute nonsense - we need to bring players in and there are no financial constraints from outside."
One reinforcement could be young striker Neil Mellor from Liverpool, and Trevor says:
"He is a very good player and lots of clubs tried to get him on loan last year; Liverpool see him as one for the future and in the interim we hope he can help us.
"He has a good attitude and we hope he will do well as a good foil for the likes of Jermain and David Connolly.
"We do need balance in the squad and I think David, Matthew Etherington, and Rob Lee - who played in this division and has an excellent attitude - will have a good influence."