O´Neill had been promised "significant funds" by Lerner but to date has only signed the West Ham duo Nigel Reo-Coker and Marlon Harewood.
O´Neill said: "Randy Lerner has not put a cap on anything I might spend and it is about me trying to find the proper acquisitions for us to be of a reasonable strength. I have had a number of conversations with him. He is leaving things up to me and he has, and will continue to be supportive, and that will be shown."
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