Blackburn spent £7 million to bring in Brereton from Forest last summer, and at the moment it appears the Reds have got the better of the deal.
The England youth international has struggled to find the back of the net since leaving the City Ground.
However, Mowbray insists that Brereton can still go on to fulfil his potential at Blackburn.
“The owners agreed on what the money was going to be and then it was down to me to spend it where I wanted,” the Rovers boss said.
“I could have bought six or seven players for £1m each, whatever we paid for Ben, or we buy a talent that we think is going to be a massive asset for the football club down the line.
“When that comes to the fore next season then Brereton will be playing as a No.9 at times, us sliding down balls down the side of centre halves for him to dart on the end of and dribble.”
Brereton is still only 19, so he has plenty of time on his side to make an impact at Ewood Park.
However, it is difficult to ignore the fact that he hasn’t scored a league goal since leaving Forest.
The Reds, meanwhile, have invested the Brereton money well - with his replacement, Lewis Grabban, proving to prolific for Martin O’Neill’s side this term.
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