Celtic have already been linked with buying many players, and have also been said to be selling.
But since the end of the season, there has not been one signing made, or one player sold.
Martin O'Neill has returned from holiday this week, and will probably wish to grab a few new recruits before the first Champions League qualifier. Martin is not daft, and will definitley have his eye on a few new bodies.
A big question is how much money he will get to spend? If you believe the newspapers, one day we will see 20 Million pounds and the next it will be more like 4 million. I feel that Martin will be granted what he needs, as we have received a decent amount from our UEFA Cup run.
So what is needed?
In the defensive side, at least 2 players will need to be brought to Parkhead. With goalkeepers, we seem in a sound position with Rab Douglas, Magnus Hedman still in contract and Xavier Sanchez Broto set to be offered a new contract. It looks like Stephen Crainey is wishing to move on, Johan Mjallby and Joos Valgaeren will also have to be replaced as they are too slow, and will be ripped apart in the Champions League.
Celtic have still not replaced Lubo Moravcik. May thought David Fernandez would be the answer, but he hasn't kicked a ball since arriving from Livingston last summer. A creative midfielder will need to be bought, we have been linked with Georgi Kinkladze and Noberto Solano, as well as Hakin Yakin from FC Basle - all of which would be good buys.
Up-front, Martin will have to start looking for a replacement for Henrik Larsson, who leaves at the end of next season. For the time being, with Hartson, Sutton and Maloney, we are well equipped in that department.
A few squad players will also have to be bought, as guys like Momo Sylla and Jamie Smith don't seem to be getting us anywhere.
With a few bould moves from Martin, we will be all set for next season - until pen is put to paper, don't even bother listening to transfer speculation.