Brooking stressed that some, if not all, of the clubs top earners like Joe Cole, Freddie Kanoute, Trevor Sinclair and David James are likely to leave Upton Park if the unbelievable happens at St. Andrews.
"Whatever happens, and I am not going to kid anyone, there will need to be some players that will go," Brooking said.
"But we want to try and keep as good a nucleus as we can to give us the best chance of getting back up in a season, if the worst was to happen, like Leicester have done this year.
"The fact is on issues like this - and we could all give a list of the players we would like to keep - the harsh fact is we have got a squad where we have players who we would get offers for.
"But it is a case of what is needed so that you go into the season on a stable financial footing.
"With wages, most clubs are trying to get a bit more realistic, and also, generally speaking, everyone is looking to keep a tight rein on their budgets. But if we go down there are implications.
"It is a situation of being patient. There is no pressure to get rid of players straight away, and that is important in terms of them realising their true value.
"We have got to bide our time, but in the end some players would have to go and the wage bill would have to be reduced."