We’re nearing the end of a transfer window in which the news has been dominated more by those who have not moved than those who have.

The majority of the main activity was conducted early – and unusually – by teams in France, Germany and Italy. Spain did get in on the act with Barcelona securing Neymar although Real Madrid have largely kept their powder dry, notwithstanding their acquisition of Isca, although the 35 million euros they reportedly paid is dwarfed by the record transfer fee they are negotiating with Tottenham Hotspur for the acquisition of Gareth Bale.

It was widely believed that, combined with the introduction of Financial Fair Play, the Premier League’s new £5.5 billion TV deal would enable clubs to outbid their overseas rivals. With several clubs backed by wealthy benefactors and aspiring stars turning to Germany and Spain, British clubs have struggled to attract the largest names. In the long run that may not be bad for them, although clubs are frustrated by not having their squads in situ before the first balls of the season are kicked in earnest.

Eradicate the £160 million spent by Monaco and Paris St Germain and all other 18 Ligue 1 clubs have sold more than they have bought. The same is largely true in Italy once Napoli have been removed from the equation. Despite the millions spent by the two dominant clubs in Spain this is a nation that has already exported more than £100m of talent this summer.

However, such is the nature of the transfer business and the domino effect initiated by one large sale, the landscape could have changed drastically by the time of going to print.

Spurs are past masters at leaving deals until the last minute, disrupting the planning process of other clubs. Ironically, Luca Modric who was the last player to leave for Madrid from that side of London, could well return to the UK should Bale be allowed to leave.

Madrid has ‘previous experience’ having established world records with their acquisitions of Ronaldo, Kaka, Zidane and Figo and could be seeking to make a statement of intent following Barcelona’s purchase of Neymar.

Of course it is also possible to disrupt other clubs simply by showing an interest in one of their star players. The longest running of these sagas has involved Arsenal’s pursuit of Luis Suarez. He has made public his desire to play Champions League football, although the Gunners’ bid of £1 over the £40m trigger in his contract has caused nothing but friction between the two clubs.

Liverpool manager Brendan Rodgers’ assertion that Suarez will not be allowed to leave this season may be tested as the sulky star continues to turn his back on a club that backed him in his darkest times over the past two seasons.

Jose Mourinho, a past master of mind games, has made clear his desire to secure the signature of Wayne Rooney, making it clear that he is the only player who could improve the existing squad. Even if both player and would-be manager fail to manipulate the transfer, the disruption to Manchester United’s preparations has been plain to see from their pre-season results.

Even the Community Shield told us little with Wigan’s FA Cup victory acting only as a prelude to their eventual relegation, meaning that a Championship club participated for the first time in years.

United have been frustrated in their attempts to secure the marquee signing that would make a mark on the start of David Moyes’ tenure. Alcantara and Fabregas are the two main signatures they sought although were rebuffed in their approaches. Speculation now persists as to who they will turn their attention to in order to bolster a squad that will be reliant on several youngsters making the step-up – Lingard, Henriquez and Januzaj will be joined by last season’s signing, Wilfred Zaha in a squad that looks a little bereft of experience.

In a marked turnaround from 12 months ago, their City rivals have bought expensively and conducted their business early. Having sacked a manager that brought them their first trophy in 35 years and first title in 44, they replaced Mancini with a 59-year-old South American with no previous English experience.

However, Manuel Pellegrini has the most varied and expensive strike-force of all clubs at his disposal. The Chilean will be hoping to reverse a trend that saw City score only 66 times, 27 fewer than the previous season.

The loss of Balotelli and Tevez will not be missed due to the acquisition of Negredo (a ‘classic’ centre-forward who works little but knows how to find the back of the net). He was the leading Spanish scorer in La Liga for two of the last three seasons and Jovetic (a ‘number 10’ who plays just behind the main forward), has close control and quick feet although can easily find the net himself.

These join Aguero and Dzeko who, in particular, has found a new lease of life and is realising the threat his aerial prowess should dictate. Behind them they also have Jesus Navas who created an incredible 76 chances in Spain last season and the deep-lying playmaker, Fernandinho.

The other team likely to challenge are Chelsea. In Mourinho they possess one of the few managers with a proven ability in the English Premier League and the addition of German international, Schurrle, with Kevin De Bruyne also returning from loan to bolster an impressive midfield. If selected, Lukaku has proven ability at this level.

Ian Holloway at Crystal Palace and Paolo Di Canio at Sunderland are two charismatic managers that should add some spice to the season. Holloway made the most eye-catching signing of the summer, paying a staggering £6m for Peterborough’s Dwight Gayle who was playing in the Conference North league 18 months ago.

Of the other promoted teams Cardiff bolstered a stingy defence with the acquisition of Stephen Caulker from Tottenham while the re-branded Hull Tigers received a setback when potential centre-forward, Charlie Austin, failed a medical.

The race for Champions League places will be tighter than ever. Arsenal have impressed in pre-season while offloading more players than they have secured, while an ever-improving Liverpool should benefit from a full season adapting to Rodgers’ tactical approach. Tottenham, even if they do lose Bale, have made some interesting signings, none more important than the prolific Roberto Soldado. 

I expect the Premier League to be shaken-up this season with one of these sides perhaps even replacing the established Manchester United in the Champions League.

Of course this can all change in a matter of days with a stellar signing or two.