The calibre of player they can attract will vary on what league they are in, with the possibility that one of the Yorkshire clubs could be promoted via the play-offs.
Both sides would benefit from more attacking options next term, to either keep themselves in the Premier League or to give themselves a strong chance of being promoted if they miss out at the end of this campaign.
Danny Ward is the Terriers top scorer this season with 13 goals but the club's next best scorer is Danel Sinani with six goals.
At Bramall Lane, the Blades are likely to lose Morgan Gibbs-White as he is due to head back to parent club Wolves at the end of the campaign. He is the Blades second best goal-scorer this season with nine, five behind veteran Billy Sharp.
Sharp is yet to agree a new deal at the Blades, although manager Paul Heckingbottom is confident he will remain at the club beyond the summer. However, if he doesn't United could end up losing their two best goal-scorers at the end of the campaign.
With both the Terriers and the Blades in need of more goals next term, we looked at 15 players who are poised to be free agents they could target when the transfer window opens, although some targets will only be suitable depending on what division the club's are playing in next season.
Take a look...
1. Shane Long
Shane Long - The Republic of Ireland international has scored just two goals in 15 appearances for Southampton this season. A move to the Championship might be what he needs to find some prolific form in front of goal, if the Blades or the Terriers remain in the second tier that is. Photo: Getty Images
2. Jed Wallace
Jed Wallace - Out of contract in the summer and reportedly targeted by Nottingham Forest in January, the Millwall attacker would certainly be a bargain on a free transfer. Photo: Getty Images
3. Tom Lawrence
Tom Lawrence - Derby's financial situation means it's unlikely he will be offered a new deal and with 10 goals in 35 games this season, he could be in high demand this summer. Photo: Getty Images
4. Lewis Grabban
Lewis Grabban - At 34 years of age, Grabban has scored 13 goals in 30 games this campaign to show he still has plenty to offer. Photo: Getty Images