Sheffield United manager Chris Wilder says the club will use the money earned from sell-on fees to buy new players.
The sell-on fees for the ex-players, who left in 2009 and 2014 respectively, will now be reinvested in the squad.
"We've done fantastically well in terms of protecting ourselves with the likes of Jamie Murphy, Kyle Walker and Harry Maguire," Wilder said.
"The Championship is a hell of a tough division, so any money that can be made available to myself, I'll try to spend it and use it wisely on additions to make us better."
The Blades are reportedly due 10% of the transfer fees paid to Walker's former club Tottenham, and Hull City for Maguire, while the same will also apply if Murphy moves on from current club Brighton.
United have already signed Fulham defender Richard Stearman, but following their promotion from League One, Wilder wants more additions, with Southend's Ryan Leonard one of those being pursued.
"We're still after Ryan - it's not a secret. We're in for a few players and Ryan is one of them," Wilder told BBC Radio Sheffield.
"We're making bids all over the place. We're looking for a centre-half, a centre-midfield player and maybe somebody at the top of the pitch.
"We're still in the early part of pre-season, there's still a lot of work to be done and we're actively trying to do some work."