"We remain fully behind the manager," he said after the Friday night debacle against Yeovil ended the Reds promotion hopes.
"There were a few Manchester United fans who were calling for Alex Ferguson to be sacked not too long ago.
"There will always be people who call for a manager to be sacked at times like this, but that would be a knee-jerk reaction.
"We believe we have the foundations of a squad that can win promotion from this division. We are not too far away from success. There will be additions in the summer, we will fully support Colin in the transfer market.
"My financial commitment will be maintained, we will continue to back the manager financially."