With our financial woes mounting and transfer targets being swiped from under our noses with depressing regularity, it's looking increasingly unlikely that Rafa will be able to strengthen the squad as he was wanting to.
Meanwhile, Chelsea and Man U are fixtures in the top 4, and near-certainties to stay there, while Arsenal, for all their much-hyped troubles, haven't finished outside the top 4 since 1996.
Knocking on the door are big-spending Man City, the richest club in world football, who have already beaten us to the signature of Gareth Barry, and look likely to beat us to Carlos Tevez too. No doubt there will be more big signings to come, and City look like they will start the season with a formidable squad of world-class footballers.
5 into 4 doesn't go, so given the above - will we retain our position in the top 4 and the Champions League qualification that goes with it? Or will our off-field troubles render us the odd man out at the end of the season?