Long time reader, first time poster.
I'm not sure that's the case bluefred, provided last season's loanees are loaned back or replaced with someone of equivalent standard. This squad should at least hold it's own, as IMO it's stronger (ability & confidence wise) than the one that went down so narrowly & for fear of stating the obvious, TM is a far better manager than his not-to-be-named predecessor.
Yes strengthening is required to compete towards the upper echelons next season (which should be our maximum realistic expectations; anything else is a bonus) & it sounds like TM is confident he has the budget to do that. The future seems a little bit brighter; not many of us would've said that 12 months ago.
In terms of signings, I think as priorities (perms or loans) we need an experienced Champ quality CB & promising box-to-box CM (as we have injury frailties in both those positions), and a strong up'n'coming CF and pacy winger (Chapman would be a risk worth taking) where we're weak full stop at this level. I'd also def have Armstrong back.
I'd keep Graham & Conway for their experience & seniority (IF the deal is right for Conway in particular i.e. not sentimental), Evans (he's got something, I'm sure!) & Samuel (ditto). I'd be happy to see Whittingham & Gladwin shipped out, and Payne not to be re-signed.
Youth wise, Travis & Tomlinson might be the answer in CM, Wharton n Nuttall loaned out to League 1, with 2 or 3 others from the U23s loaned out to League 2.
That should be enough to see us finishing mid-table or top half, potentially with a playoff tilt. I'd like to see us challenge higher, but Ewood can't be rebuilt in a season. Those in the playoffs were, by definition, amongst the best of last season. We ought to be stronger than the majority of the also-rans and I'd be happy with stability in that respect.