Country: England
The team isn't *that* far from being at least a top 4 contender. If you assume that Leno, Cedric/Bellerin, Saliba, Tierney, Xhaka, Saka, Pepe and Auba if he re-signs will be the core for the next couple of years then 3 good signings can make this team viable. As you say a lot of players come off the books in 2021 so get rid of them, keep the academy lads as back-up and suddenly the squad looks a lot better.
It's never as bad as people think, Klopp took over a bigger mess at Liverpool and just three major signings (Mane, Wijnaldum and Matip) was what he needed to get into the top 4 in his first full season.
Yeah as bad as we have been I think we're about 2/3 signings off really challenging for top 4. But with missing out on Europe etc, I'm not sure how viable it is to bring in 2/3 quality players.