Chairman Kevin McCabe's decision to postpone a proposed 'takeover' of the club last week has released more money for immediate spending.

McCabe, who already owned a 75 per cent stake in the Blades, withdrew an offer for the remaining 25 per cent to instead invest £10m in the club in the shape of convertable loan notes.

Although McCabe may still step down as chairman in the near future, his company Scarborough Group Holdings will retain ownership of the club and remain fully committed to getting the Blades back into the Premier League.

Blackwell said: "The chairman's decision has given me the confidence that, if something comes up that we need this summer, I am able to go ahead and do it.

"To have that sort of backing from any chairman at any club is nice.

"In some cases, it means others thinking we have more money and asking for exorbitant fees for their players," he added.

"But I won't be spending money unless I think it is a good deal and we will be prudent to avoid jeopardising our financial stability."

Welsh international winger David Cotterill is high on Blackwell's wanted list but, with one year left on his contract at Wigan Athletic, is likely to cost a six-figure fee.

Blackwell has now spent five months at the Blades helm and has yet to splash the cash on any transfer fees but, significantly, that is because he has never felt the need to do so.

The Blades finished last season as one of the form teams in the country and narrowly missed out on the Championship play-offs after starting out in a relegation battle.

However, after landing Sunderland's Greg Halford on loan and Chinese international Sun Jihai on a free in midweek, Blackwell has confirmed that his next priority is a wideman.

Both Cotterill and Manchester United's Lee Martin have expressed desires to return to Bramall Lane after enjoying loan spells at the club last season.

The Blades have also been linked with Plymouth Argyle winger Peter Halmosi and Sunderland winger Ross Wallace, but last night Blackwell ruled out moves for both players.

"I want to tie up a deal for a wideman soon," he said

"Cotterill is desperate to come back and Lee Martin has made it clear that he also feels the same. There is a possibility that we could get both, but I also have a number of other options."

Blackwell has once again stressed that there is no pressure to sell record signing James Beattie – although several top-flight clubs are understood to be keen on the former England international.

"I've had a chat with the chairman and we've not got to get rid of anyone," said Blackwell. "Clearly I'd like to look at reducing the squad a little because it is quite big, but the good thing is that people will only go when we want them to go."

One of Blackwell's biggest headaches is deciding when or if to lose any of the six existing strikers on the books.

If Beattie should be sold, it would push alternative targetman Rob Hulse – who has already been the subject of a failed move by Derby County – up the pecking order.

Sheffield-born striker Billy Sharp is a firm favourite with the fans and blossomed under Blackwell so would appear to be the least likely to be sold.

Jon Stead, however, may not want to stay on the bench for long and Jamaican international Luton Shelton has struggled to hold down a regular place.

Former Manchester United striker Danny Webber is also back in the picture after missing the majority of last season with injury and this has not gone un-noticed at Crystal Palace who are managed by former Blades boss Neil Warnock.

Whether former England internationals Lee Hendrie and Ugo Ehiogu have a part to play for the Blades this season remains to be seen.

Midfielder Hendrie was offered a fresh start this summer by Blackwell, but expressed a desire to stay at Leicester City during his loan spell with the club last season.

Veteran defender Ehiogu, meanwhile, is a possible target for new MK Dons manager Roberto Di Matteo.