Two massive factors before any of us can suggest / identify players to buy for next season:
1. Who will the manager be?
2. Will we have European football?
My assumption is we will have a new manager and no European football. After all the noise about going back the club's DNA, the next manager will be someone who plays possession based, front foot football, and is good at developing youth players (and can work to a budget).
I am also assuming we will sell some of the more senior players like Romero (£50m), Bentancur (£25m), Bissouma (£25m) , Richarlison (£30m) etc. whilst they have some market value. That is in addition to Hojbjerg (£15m) and Gil (£12m) who have obligation loans, and potentially also Solomon (£10m). As usual, the focus will be on offloading players rather than buying better ones.
We also need to decide which of our young players will contribute to the first team next season. Players like Abbott, Donley, Vuskovic, Phillips, Devine, Lankshear, Moore, Scarlett all have something to offer and at some point we need to back them or sell them. There is another batch of academy players close on their heels and time does not stand still.
If we do have no European football then it will be very hard to convince Levy to actually spend any money on new / better players as we will have still have a decent'ish 23-man squad (1 game per week) even if we sell the 7 senior players I listed above:
Vicario, Kinsky, Austin, Porro, Spence, Udogie, Danso, Dragusin, VdV, Davies, Vuskovic, Gray, Sarr, Bergvall, Maddison, Donley, Devine, Kulusevski, Johnson, Odobert, Solanke, Son, Moore, Tel(?).
I personally think that is a squad that, with no european football, could finish top 8, but not get anywhere near the top 4 or win a trophy. And that cannot be good enough.