I'm sure I'm not the only one thinking this, but Manchester City are assembling a pretty good team.

Roque Santa Cruz has followed Gareth Barry in joining their much-publicised project, but how far are they from consistently challenging for at least a top-four spot?

The team sheet that beat Bolton Wanderers on the final day of 2008-2009 read: Shay Given; Micah Richards, Nedum Onuoha, Richard Dunne, Wayne Bridge; Nigel De Jong, Vincent Kompany, Stephen Ireland, Shaun Wright-Phillips; Felipe Caicedo, Robinho.

That looks a decent team, but I don't think they would seriously challenge the top four.

Mark Hughes is a wise man when it comes to the transfer market; he knows what he wants and will go to lengths to bring that player in.

In Barry and Santa Cruz he has already spent an estimated £30m this summer, and there are more players expected to walk into the City of Manchester stadium.

From the team listed above, we can see that City's top priority should be a few proven quality defenders. A lot more strength in depth is needed throughout, but the defence at City has always been vulnerable, so Sparky will surely bring in some defenders.

Kolo Toure has been a name frequently mentioned this summer; this would be a real coup for City. He's played at the top level, he's strong, and he can pop up with a few goals over the season.

Joleon Lescott has also been strongly linked, and if City offer the reported £15m, Everton would find that kind of money difficult to turn down.

A proven right-back may be on the agenda as well, but as Glen Johnson has joined Liverpool, that search will continue.

Midfielders could be on the cards, although their current midfield is rather impressive. I think the wide left position is probably their weakest midfield position, and no doubt City will show their ambition in rectifying that.

They may look at Lionel Messi (Barcelona) or Franck Ribery (Bayern), but may have to lower their sights for someone such as Stewart Downing or Yuri Zhirkov.

Strikers is another area where City need new faces. Darius Vassell and Valeri Bojinov are hardly the calibre of player to set the pulse racing, so expect them to move on this summer.

It seems certain that Manchester United crowd favourite Carlos Tevez will join Sparky's revolution. There may be a need for one more striker, but a strike force of Robinho, Santa Cruz, Tevez and Craig Bellamy is not too bad.

If they see to all these areas, then they will certainly challenge the top four in the next season or two.

Arsenal will be be wary of  City. The Gunners look to be the weak link in the Premier League monopoly, and if Sparky's men do manage to break into the top four, Arsenal could be the fall guys.

There is now a gap emerging between the top three of Manchester United, Liverpool and Chelsea and fourth-placed Arsenal, who will have to raise their game more than anyone to stave off the threat from Eastlands.

It's almost sickening to think that, in these times of economic crisis, money appears no object to Khaldoon Al-Mubarak. But even Manchester City may think twice about paying over the odds for players.

Sparky will know what wages players will deserve, and if they think they deserve more, then perhaps City aren't going to be the club for them.

Young striker Daniel Sturridge rejected what Hughes felt was a decent salary for him. He thought he deserved better. City didn't agree, and now he could be off to Chelsea.

The Manchester City financial situation has parallels to Chelsea in 2003, when Roman Abramovich started throwing his Russian roubles around. Two years later Chelsea won the league. Could City really do the same?

Perhaps they need another season or two to build their squad. They are 25/1 to win the league, and 15/8 to win the league without the top four (odds courtesy of BlueSquare).

Expect Manchester City to make significant strides this coming season.