I would want the Ridge to stay but not fussed about Davis. He is less certain to become the quality player we had hoped.
For versatility alone, Hughes could be worth keeping but I doubt he would get anywhere near the team unless we were crippled with injuries!
I would sign a right back, centre back, left back, central midfielder and a striker.
For example: Bardsley (if he proves himself), Distin, Baines, Barton, Bellamy. They would cost in my opinion: £3 million, Free, £4.5 million, £5.5 million, £8 million. That is £21 million. SWP could also be added to that for £10 million making £31 million. A move for someone like Reo Coker for about £6 million could alsobe interesting.
I would then get rid of Samuel and Angel for a combined fee of £2.5million if we are lucky and if his injuries persist I would say goodbye to Sutton too. Hendire is as good as gone and Berger is likely to be off too.
We also have to keep on the look out for good young talent!