With the coffers swelled, Townsend has added New Zealand back-row Angus Macdonald and Canada wing Taylor Paris to the squad while Sean Lamont also returns to the Warriors.
Last season Ruaridh Jackson, Scott Wight and Duncan Weir shared the fly-half responsibilities with the latter establishing himself as first choice under Sean Lineen.
But former fly-half Townsend, who won 82 Scotland caps, insists all three will begin the season on a level playing field.
"Ruaridh and Scott have trained well and have been given the opportunity to play while Duncan will get that chance this week," said Townsend, speaking at the launch of the 2012-13 RaboDirect PRO12 season in Glasgow on Tuesday.
"I see a three-way fight for that jersey and whoever plays well gets the chance to play. We have to manage the squad throughout the year and all 30 players will get the chance throughout the season.
"I think the key is managing whatever is best for the team to win and if that means selecting one of the 10s ahead of the others then so be it.
"Ruaridh has worked very hard physically over the summer and stood up very well. He's in a position that involves a lot of decision-making but it's about putting that work in and making sure he's improving all the time."
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