i assumed he was in a takeover beacause of the 'clubs future' comment, what else would they be asking you to be patient for in relation to clubs future? Transfer embargos do get put in but not always straight away, usually towards the business end of the deal, if its in the early stages then he might not have an embargo yet.
Case in point - i am currently having a takeover in my save
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yet i can still make offers to players
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Anyway, i agree that you should try to buy quality youth where you can and just perform as well as you can - keep qualifying for champions league and you will get some mony