Yes plenty of time, but we also need an attacking midfielder to replace our loan losses and to strengthen our squad is going to require a significant number of players
The depth issue might not be that bad.
Assuming for argument's sake we have a starting XI of: Pelle, Mane, Juanmi and Rodriguez. Wanyama + Schneiderlin/replacement. Soares, Fonte, Alderweireld/replacement, Bertrand. Steklenburg.
We would then have as a second XI-- Long, Davis, JWP, Tadic. Then Reed and ?? as DM. And then ??, Gardos, Yoshido, Targett as the back four. SKD. That's not too bad. Eight guys who IMO did not at all embarrass themselves in Premier League and in more than a few cases were quite good.
Obviously, players will get injured. But we also have some academy players like Gallagher, Stephens, maybe Seager and McCarthy who could play in a pinch at least in early Cup rounds and probably need to get some first team action soon anyway.
We'll be stretched for sure, and it's not going to be easy. But it's not as dire to me as it might seem at first glance.
I think Beefy has it right. If we starting from today's roster we simply replace the starting/semi-starting first teamers we lost-- Cork, Clyne, Schneiderlin, Alderweireld (two CM's, RB, CB) I think we would be reasonably okay.
The two big ones are Schneiderlin and Alderweireld as they were key first team players. If we could hang on to Alderweireld that would be huge. The RB we would sign would really just be a replacement for Alderweireld/Gardos/Yoshida having to play RB last year so the standard doesn't have to be that high. Someone young, with potential, maybe even from the academy. Similarly Cork was kind of a fringe-y starter so we should have the funds to replace him as well. 10-15m should cover that, so basically the Clyne money.
We then have up to 25m to replace the guy we just sold for 25m. And from the coffers we would need maybe 15m for Alderweireld or replacement.
We could easily cover that with funds we have on hand. If it is true that KL is going to inject some funds, we could possibly bring in another quite decent striker/winger. And still have some money left for pure speculative projects-- whatever possibly undervalued young talent the Black Box might identify.