Sheffield United manager Neil Warnock will head into next month's transfer window with £7million at his disposal.

But Warnock has been warned by plc chairman Kevin McCabe he will have to use the cash to help fund players' wages.

United are to raise £10million via a loan note allocation scheme to be approved by shareholders towards the end of the month.

Warnock is to be given half of the funds, plus he has a further £2million remaining from the summer transfer kitty.

McCabe confirmed: "If we're adding the £5million from the loan note allocation, plus the budget left over from the beginning of the season, he probably has something like £7million.

"It's a lot of money, although that's an allocation of money that is also for player contracts.

"My feeling is the squad we have now is good enough to keep us up, but I appreciate every team needs freshening up at some stage.

"We did that last season when we brought in four or five players in January.

"You can look back and say Neil didn't need some of them, but we were promoted, so it worked.

"This time around we maybe need to freshen things up a little, but don't ask me with who because I haven't a clue.

"When you look at who we can recruit, the list is pretty small if the criteria is that we need players who are better than those we have. It's not easy."

With foreign takeovers of Premiership clubs seemingly commonplace these days, McCabe has revealed he would not snub an overseas cash injection for the Blades.

Manchester United, Aston Villa, Portsmouth and West Ham are all in foreign hands, with every possibility Liverpool and Newcastle will soon follow.

"I would like to think someone would come on board sooner rather than later," added McCabe.

"If we want to reach Europe then an injection of £50million would certainly help us.

"But there is a board here that is looking after Sheffield United and it is one that should bring it success."

Success this season would simply involve survival, and while not placing any pressure on Warnock, McCabe's expectations are high.

"Football wise, this season has so far been great," reflected McCabe.

"We've 20 points after 18 matches, which is a little bit above my expectations.

"But I always said we would finish mid-table, and it will be come the end of the season.

"With the team spirit and drive we have here, we'll get whatever points are necessary to ensure Premiership status is maintained."

Goalkeeper Ian Bennett faces a few weeks on the sidelines after breaking a finger in training this week, which means Paul Gerrard will serve as back-up to Paddy Kenny.