Kevin Blackwell insists Sheffield United must spend in the summer if they are to remain competitive in the Championship.
The former Leeds boss was speaking after Newcastle secured promotion to the Premiership before the two sides had even took to the field at St James Park on Monday.
A 2-1 defeat meant the Blades fell nine points behind in the play-off race.
Blackwell told The Star: "We've got to build something, build our own squad, to be able to compete with teams like Newcastle.
"To have come so far, to be in the position we have been for much of the season where we were still in with a shout is a credit to the players' application and commitment because it's not been easy for them.
"All of us work hard because we want the same thing. My staff and myself always keep an eye on those who could be assets."