As we are not playing FM, we should be realistic and fix at least something during the summer. I don't expect that we will spend more than 200m (even that), and especially if we do not sell some big names.
If we should trust media and Ole's interview, he is opting for younger players that will grow in the next few years, which is excellent. On the other hand, it is possible that Ed will try to sign some big name, but I wouldn't bet on it, except if De Gea or Pogba leaves.
What will certainly happen is that some of the fringe players will leave the club on free (Darmian, Valencia). That certainly means that we will buy new RB who will compete with Dalot for RB spot. Young had extension, probably his last and I guess he will be a backup for LB and RB positions. Since Dalot can play LB as well, hopefully Young won't have too many games next season. Not sure who is on the radar, I doubt it will be someone young, as we already have 2 young players on this positions, and have Laird as talent (and even O'Connor) that will maybe be ready in a season or two. So, I guess someone like Meunier is an option, as not very expensive, probably can be signed for 20m or so.
Honestly, I think that we will let Mata leave as well. He is very expensive for someone who is obviously bench player, while he certainly won't like one year contract. On the other hand, we need RW, who is really RW, and we have Chong and Greenwoon who both should be squad players next year. So, replacing Mata with someone who is young, strong and fast, and who can grow in the next year or two would be serious improvement. We would open right side with new RB (or Dalot) and RW and open space on the left for Martial or Rashford to play with less pressure. Not sure who will RW be, but I doubt it will be Sancho.
I hope that we will sell Rojo as well during the summer. He did not play for I am not sure how long, and we certainly would not be worse without him. Probably we can't get much money for him, he is almost 30, injured. Tuanzebe will hopefully take his position in the squad, and play much more hopefully.
So, if we fix RB with someone experienced, and RW with some young (not very young) talent, we will probably have around 150m to invest to fix real problems. Real problem is top CB and CM.
Not sure who would be top CB that is achievable, and young enough. Varane? I guess that would be great, and it would cost a lot, probably half of this.
CM? That is crucial problem we have I think, although it is not that obvious maybe bigger problem than CB as a lot of problems we have in defense are coming from CM's that can't keep ball under pressure or don't want to be aggressive. Herrera leaving is a loss, but lets be clear I don't think that Herrera is the quality that should be more than a squad player in United. With him leaving we need two CM's to imrove, one DM and one box-to-box. Like Neves and Ndombele (if they would play like we think they would). We will hardly get those two for 70-80m to be honest.
If this happens somehow I think we would be better. We would have Lindelof and top CB (and Smalling, Jones and Bailly as backups, with Tuanzebe hopefully improving a lot). We would have Shaw and Dalot (with Meunier for example as backup, and Young only if crisis). That would be much better.
Midfield with Pogba, Neves, Ndombele, Matic, Pereira, McTominay and Fred, with Garner having a few games, is much better than the current crop.
Attack with RW helping current crop Rash, Martial, Lukaku, Alexis, Lingard...that is also much better.
So, it is possible with investments in the region of 200m, and a few good sales (maybe Pereira should be sold with the last year of contract) to have a better and more balanced squad that would fix a few problems we have in the team.
Looks like at least someone from our star players will ask to leave. Talking about Pogba, De Gea, Alexis, Lukaku. Some of them more star players concerning salary. I am pretty sure, we can be better team if any of them leave, and if we agree on taking someone as replacement. For example if De Gea can be replaced with Varane + Courtois, I would go for it.