Troubled Blades do not have to sell, says Speed

Speed, who took over as manager four months ago, insists the club's long-term future remains bright and does not regret taking the job.

McCabe, 62, will be replaced as club chairman by current vice-chairman Chris Steer but will stay on as Plc chairman and leave his money in the club.

Chief executive Trevor Birch, meanwhile, has already been given the lead on football related matters so McCabe's exit does not have an impact on day-to-day operations at Bramall Lane.

Speaking ahead of tomorrow's trip to Bristol City, Speed said: "No-one has told me that we have to lose some (players), so there are no concerns there. I haven't been given an assurance that we have to sell anyone so for me that is a re-assurance that we don't have to sell."

Speed will still have to reduce the club's wage bill going forward but insists that process does not happen 'overnight.'

"Things have been explained to me and, long-term, the future looks quite bright compared to other clubs," he added. "As long as the long-term future of the club is not in doubt, that's the main thing. As far as I am concerned, nothing has changed. I'm privileged and happy to be manager of a great club.

"The (financial) figures have put everyone in the picture, which is good, but they don't alter our ambitions.

"The short-term goal is making sure we stay in this division, the medium-term goal is top six, and the medium to long-term goal is to get in the Premiership.

"The long-term goal is to stay there and get established as a Premier League club. That's my goal and I'm sure its everyone else's – but we have got to take it a step at a time."

The Blades extended the loan signing of Sunderland midfielder Andy Reid yesterday and also landed Wolves defender Danny Batth, 20, on loan as cover for centre-backs Nyron Nosworthy and Kyle Bartley.

Republic of Ireland international Reid, 28, has impressed during his first month on loan with the Blades and is deemed surplus to requirements at the Stadium of Light.

Batth, meanwhile, has yet to start a league game for Wolves but made his debut for the Premier League club against Southend United in the second round of this season's Carling Cup. He spent the whole of last season on loan to League One side Colchester United, making 17 appearances and scoring one goal. Both Reid and Batth will be staying at Bramall Lane until January 3.

Speed has also agreed to sign promising young midfielder David McAllister, 21, from Irish League side St Patricks when his contract expires next summer.

"I need to bring in players who are young and have the drive and determination to improve," said Speed. "That was my remit before (Wednesday's) announcement but it's a slow process and can't be done too quickly as they need to be the right players."

McCabe, meanwhile, has explained the reasons behind his decision to step down as club chairman.

"It's a positive move, I am not 'sneaking out'" he said. "I am ready to step down and be a supporter again, I have done my stint stewarding the club, and that will continue until we find people who can take it over for all the right reasons. I am a 'Blade' through-and-through but I am getting older and I have family commitments."

McCabe, 62, joined the Blades board 12 years ago and has been Plc chairman for the majority of that time. He took over as club chairman two years ago and now lives in Brussels.

"I don't live in Sheffield and I've always said a chairman should be in the territory and be accessible," he continued. "It's not on where I live and where I do business both nationally and internationally. The time is right and it's coincidental with reshaping the club.

"I don't see myself getting my money out," he added. "If a 'Roman Abramovich' were to come along, I would contradict myself, but do I see that happening? Not really. A couple of years ago, we were talking to a couple of American investors but you are unlikely to find investment from America in this climate. It's changed globally. The Far East or India are the key areas for investors now."

Chairman elect Steer, 64, is a partner in the Sheffield-based company Pyramind Carpets and joined the United board eight years ago. McCabe believes he is the ideal man to take over the reins, saying: "Chris is a super guy – he's got a great accord with supporters. He has been with me approaching 10 years and, along with (director) David Green, they go to virtually all the games home and away, and attend community functions and local events flying the flag for Sheffield United.

"His dedication to the cause for Sheffield United is total. He'll be taking the chair on and I think that's a positive. Because he's there at Bramall Lane regularly he has more of an input. Whether it's spending more time with staff, more time with Trevor (Birch) who has the responsibility of chief executive or travelling with Gary (Speed) to the games."

Steer will be replaced as vice-chairman by Green.