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By ESPN Staff

Warnock prepares to spend £5m share windfall

Sheffield United manager Neil Warnock is already setting his sights on spending a £5million windfall that has been agreed at an EGM of the club's shareholders.

Shareholders passed a resolution to raise £10million through the issue of convertible loan notes to investors and Warnock is set to be handed half of that money to invest in the squad.

It is good news for Warnock, whose side are sitting just above the relegation zone following consecutive defeats over the Christmas period.

The club are already in talks over a handful of players and Warnock admits he is looking for players who are familiar, or well-suited, to the English game.

'We're meeting a few agents and talking about signings and we've talked to one player who we quite like, but I don't think there will be too many [transfers].

'I don't think we're the kind of club who can be signing three or four foreign players. If you look at the likes of [Nemanja] Vidic at Manchester United, he struggled for six months and look at him now, he's magnificent.

'But we have to be looking at the next three or four months until the end of the season so we need to be looking at the English type of player if I'm honest.

'We'll look everywhere. Premiership lads who aren't getting in teams, top Championship players and if there are any gems below that level we'll not say no.

'We've also been looking quite a lot abroad at the moment but we're looking for the English mentality.'

One such player could be Helsingborg's Jamaica international Luton Shelton, who Warnock admits to having watched in action.

'There'll be loads of names thrown about but I went to see Helsingborg, where Luton plays. There were two or three names we were looking at in that match,' Warnock added.

'We've been watching all over the continent but we haven't made any definite offers yet.'

Despite Warnock's expected activity in the market, he admits the winter transfer window is not the ideal time to do business.

'We're all fighting for similar players at the bottom half of the division and we can't get anywhere near the players that the top half are trying to bring in,' he added.

'You've got to be lucky as it's not a good time to buy in January.

'Sometimes you have to pay a little more than a player's worth to get them on board but the stakes are so high that is what you have to do.'