Before they can begin to think about doing that, however, they have the small matter of keeping hold of their current squad to contend with.
The likes of Ben White and Yves Bissouma have been linked with potential exits for some time now, but another player in a relatively precarious position is forward Danny Welbeck
The ex-Manchester United man is out of contract this summer, and Albion chief executive Paul Barber is eager for him to stick around.
"He did a fantastic job for us," said Barber. "Anyone who doubted that Danny [Welbeck] was still capable of playing at this level have had their questions answered by the performances that he gave us.
"Obviously we would love Danny back next season.
"The plus side from what we saw is that he did a great job for us, the downside of what we saw is that makes him attractive to other clubs as well.
"Therefore we go into a position where we would love Danny to be with us next year but we also know that he is even more desirable because of the opportunity he took with us and did a good job with us.
"So we are certainly talking to Danny and we will see where we get to over the next few weeks."
We’ve gathered the best of today's Premier League transfer rumours below...
1. Loftus-Cheek in demand
Aston Villa, Crystal Palace and West Ham are among the favourites to sign Chelsea striker Ruben Loftus-Cheek this summer. The England international spent last season on loan with Fulham, and made 30 league appearances. (SkyBet) (Photo by Phil Noble - Pool/Getty Images)
Photo: Phil Noble - Pool
2. Sanderson set for exit
Wolves defender Dion Sanderson looks set to leave the club permanently in the upcoming transfer window, and is likely to see a fierce battle for his services develop. A host of EFL sides have expressed an interest in the 21-year-old ace. (Football Insider) (Photo by Stu Forster/Getty Images)
Photo: Stu Forster
3. Saints want to keep Ward-Prowse
Southampton are rumoured to have put a 'hands-off' warning out over their star player James Ward-Prowse, as interest in the talented midfielder continues to grow. He just missed out on a place in England's final 26-man Euro 2020 squad. (Daily Mail) (Photo by Lee Smith - Pool/Getty Images)
4. Phillips urges Hammers to swoop for Wood
Ex-footballer Kevin Phillips has urged West Ham United to pursue a move for Burnley striker Chris Wood, who could cost as much as £40m. He's branded the player a "real handful", and insisted he'd be a real upgrade on their current options. (Football Insider) (Photo by Molly Darlington - Getty Images)