Sevco are preparing a third bid for Jake Cooper after Millwall turned down a bid of £3m for the centre half.
According to a report in The Sun Steven Gerrard is determined to bring in a third central half to supplement the signings of Connor Goldson and Nikola Katic.
The reported spending seems massively at odds with the club accounts which had predicted a £4m shortfall for the current season.
So far Sevco have committed around £5m on transfer fees but the main expenditure has been on the wage bill.
Gerrard and Gary McAllister are believed to be collecting around £250,000 per month with Goldson, Jon Flanagan, Allan McGregor and Scott Arfield also picking up substantial salaries.
No significant wages have been lost with Eduardo Herrara moving on loan to Mexican side Santos Laguna yesterday but still under contract until 2020, just like Carlos Pena, Joe Dodoo and Jason Holt.
When the former Liverpool youth coach was appointed Dave King was counting on a £6m share issue in June to boost the coffers as well as money flowing in from the kit deal with Hummel.
The share issue has fallen by the way side while the money expected from the new kit deal has been replaced by the costs involved in contesting a legal dispute with Sports Direct over a breach of contract.