If you choose finish mid table you get around 12 mil. Sell dead wood (easier than usual for some reason) such as LITA (who I sold for 1.9m to Wolves) and you ll get 15 mil+ to play with.
Use instalments for the release clause players at least.
Dunno who will Hughes is (in FM13 not in real world). Of the others you get they are all a bit raw (brace yourself for some really frustrating times with Ademilson in the first season btw). But Danny Graham will score for fun:
I'd consider the following as must buys:
Wellington Nem 3.5 release clause - use on wings
Simao (look for him, he plays for SHANDONG - kill to buy him)- dm
E.Sviatchenko -cb
St. Strandberg -cb/dm
Plus another cf, Kweuke or Libor Kozak
Id also look at the following:
Chris Solly rb
Carles Planas lb
Alex Milosevich cb
Yttegard Jensen cm
Boenisch (free) lb
Vanden Borre (free, I think or v cheap) cb/lb/rb/cm/rw
R. Drenthe rw
I d also sell Tremmel and get C. Gordon in on a free.
I worked along these lines and finished 3rd in my first season (goal difference from second MAN ****** and 5 points off UTD at the top).
And theres also Kara.