Trouble is those players cost 3-5 times as much as a player from abroad and will be on massive wages of well over 50K a week.
We should get top draw players for the positions that need to be filled immediately (one each of GK, CM and CB as many have stated) and then, once we've cleared out the old players (outside last years 25 and any that aren't in future plans) invest more in youngsters who have a realistic chance of making it in the Prem and who won't do too badly if called in as cover.
Mixture for me I think we need - Experienced Keeper. Experienced CD and a Young CD Experienced CM and a young left\right sided Winger. Young Speedy Striker. Thats 6 players, by be all accounts be getting rid of more than that which leaves plenty of space to fill with Young up and coming people.
That's obviously the downside, but if we can do business sensibly we may get lucky. It's one of the reasons why I think we should concentrate on a smaller core group of players though, so we can spend what we should spend to get that quality and experience in the side. It will certainly be interesting to see what kind of transfer budget Hughes will get this summer, but at the very least, the recent clear out will have freed up some funds in terms of savings on salaries that may be reinvested back into the squad.