IAIN Grieve has opened his heart on Bristol's financial struggle and admitted: "I would love to stay at the club – but I don't know if that's still possible."

The 23-year-old flanker – Bristol's joint player of the season with James Phillips – only signed a new deal in February.

He is understood to have turned down the opportunity to move to Guinness Premiership and Magners League sides in order to commit his future to the club he joined as a teenager.

But following Bristol's failure to win promotion back to the Premiership, Grieve is one of many players questioning whether they have a future at the Memorial Stadium.

The versatile back-rower – who has been tipped by many since a young age to one day captain Bristol – is faced with the decision of agreeing to a 50 per cent pay-cut or seeking a move elsewhere.

His prospects of finding a suitable move, however, are extremely limited as the majority of Premiership, Magners League and top Championship clubs have finalised their squads for the 2010-11 season.

He said: "All the players were already really down, because we didn't get promotion, so getting hit by the pay thing is even more of a blow.

"Everyone was shocked when we were told the news – and the decisions we are facing are not easy. Everyone is trying to assess their options and we know this is a really difficult time for the club.

"Personally speaking, I want to stay at Bristol. This is my home and I don't want to go anywhere. I would love to stay at the club – but I don't know if that's still possible."

Grieve, who can play in any of the back-row positions, believes his versatility may actually restrict his options when it comes to finding alternative employment.

"Most clubs have already finalised their squads for next season and some are even starting pre-season training pretty soon," said Grieve.

"It's a tough market and a hard time to find another club. All you can do is ask your agent to have a look around, but it's looking like a bit of a struggle. Plus, the position I play is not specific like a hooker or a scrum-half, so that makes it even tougher."

Grieve is confident Bristol will be able to hold on to the majority of their academy starlets – and is not alone in hoping the up-and-coming talent can play a key role in the future of the club.

Winger Lee Robinson, whose move from Bristol to Leicester was confirmed over the weekend, has urged the club to put its complete faith in the academy system.

"Bristol have to consolidate now – and one thing they need to do is nurture the academy and even make it bigger," said Robinson.

"Other players are going to be more expensive, so this is a great chance for Bristol to pull out all the stops regarding the academy.

"They need to put a long-term strategy in place for the future – and that should start with the academy."