With the reported £50m we have plus the fact that we actual made some money of transfers (selling parker) I would...
Defence:
Philipp Lahm - LB contracted till 30 June 2007 according to Bayern Website!!! Quality player
Geremi - RB, CM, RW decent player and free too.
Jorge Andrade - CB, LB came back from serious knee injury later this season but is credited for keeping deportivo up by shoring up the defence. I believe he's left footed so could provide cover at LB. They want to sell too cos they are in financial do do
Cris of Lyon - good CB.
Habib Beye - CB, and RB
other than Lahm not of these should cost too much money, Cris and Andrade maybe 8m each max , Beye, 2m, Geremi free, Lahm £10m
Midfield:
Ryan Babel - Excellent at U21 championship and a quality attack player either as a striker or winger
Stephen Appiah - CM him and Barton would probably give the highest work rate in the league this guy is an absolute power house and he is box to box and scores great goals.
Appiah mabe 8m and Babel 6m
Don't think we need any more strikers but we should be able to get these guys for £50m
NB Please dont go on saying such and such will never come, just give them big contracts, money talks (it worked for Chel$ki).