Alves would likely take up your entire transfer budget, and maybe more.
Championship update
1---Birmingham-----44---24----83
2---Sunderland------44---23----82
//////////////////////////////////////
3---Derby-----------44----16----81
4---Preston----------44---12----71
5---West Brom------44---18----70
6---Wolves----------44---/-2----70
//////////////////////////////////////
7---Southampton---44----20----69
8---Stoke------------44----19---69
9---Colchester------44----18----69
10--Sheff Wed------44-----5----68
Sunderland and Derby have both screwed up, handing the initiative back to Birmingham. None but the top 3 can make automatic promotion even mathematically now, and the one who doesn't has also secured a play off spot, obviously. The race for the other 3 play off spots is incredibly close, 3 points seperating 7 teams.
I won't go through every team chasing the play offs, but I will say that West Brom and Wolves have easy enough fixtures that they should easily hang on to their spots, while Preston's are quite hard and include Birmingham. So if anyone is likely to slip, it's them.
I will go through the chase for top spot though:
Birmingham
H Sheff Wed 10
A Preston 4
Sunderland
H Burnley 15
A Luton 24
Derby
A Crystal Palace 13
H Leeds 22
I really can't call it. Sunderland are in the best position, they're ahead of Derby and have the easiest games. Whether they'll win the title or not I don't know, but they should grab one of the top two spots.
The other spot...so tricky. Derby's games are much easier than Birmingham's. Even more so as Birmingham have to go away to the hardest fixture of the lot, Preston. On the other hand, they have two points and a pretty much unassailable goal difference over their rival. If they lose to Preston though, Derby could well pounce.
It's all very exciting. I'll back Birmingham and Sunderland to make it, but I certainly can't call a champion.
EDIT: While Sevilla are doing well, they wouldn't be the first Spanish team to have a great season and then drop off rapidly (Deportivo, Betis, Villarreal?). It's possible Alves might see them this way and decide to move to a bigger club if one comes in with a good enough offer.
And that's another point...unfair as it may be, some teams just aren't considered big even if their league position is better than others. I could see him picking one of the traditionally big sides if they come in for him.
I'm not sure they will though, at the price Sevilla want.