The transfer market has officially opened for business.
Teams have just 10 weeks to complete deals, with the window closing on October 5th.
It is likely clubs will look to get moves done early, especially with the new season beginning on September 12th - and pre-season commencing for most sides in just three weeks.
Newcastle United are in a unique position, as their Saudi Arabian-backed takeover is still yet to reach a conclusion - even though the deal has been in the hands of the Premier League for a staggering 17 weeks.
The pending takeover is backed by the Public Investment Fund of Saudi Arabia, who are the sovereign wealth fund for the country.
The PIF itself is worth over £300bn and is headed by Crown Prince, Mohammed bin Salman.
The deal has apparently stalled after complications about the country's alleged involvement in TV piracy network beoutQ, as well as their poor human rights record.
It seems unlikely that a yes or no answer will arrive from the Premier League before the new season begins - so it will be up to Steve Bruce and chief executive Lee Charnley to decide who arrives on Tyneside this summer.
Regardless of a takeover being completed or not, here are five players that could join Newcastle ready for next season.
Callum Wilson is almost certain to leave Bournemouth this summer after their relegation was confirmed at the weekend.
The Magpies are desperate for a striker as their £40m man Joelinton sensationally flopped last season, after only scoring just two goals in 38 league appearances.
Callum Wilson would certainly bring goals to a Newcastle side, as well as the ability to chip in with assists - something that he has regularly done at Bournemouth.
The race for the 28-year-old is currently being led by Tottenham, but you feel Newcastle would be able to offer the Englishman a starting spot every week - something which Spurs would not be able to.
Wilson is currently on £60,000 a week at The Cherries, and it is likely that he will want a rise on his current earnings on the south coast.
It is rumoured that just £10m would be enough to take him away from Bournemouth, as they get ready to adapt to life in the Championship.
Eberechi Eze has once again been one of the standout performers in the Championship this season, recording 14 goals and eight assists.
The QPR attacking midfielder would forge a partnership with Miguel Almiron and Allan Saint-Maximin in the attacking third, something which head coach Steve Bruce will be keen to build on after the pair had an impressive campaign last time out.
QPR's 'Director of Football' is former Newcastle striker Les Ferdinand, who acknowledged The Magpies' interest in an interview last month with fan channel, Newcastle Fans TV.
"If you pay enough money for him, you can get him to come!
"I'll be giving him a glowing report in terms of what it's like up there.
"It's a great place to go and play football but as long as you lot match our asking price, you can have him no problem!
"People have been asking me about him, even the club said lots of people are talking about him, and I said he's probably in the top six players I've seen.
"He'd be in the top six easily in terms of his ability to control and pass the ball, I think the rest of it will come.
"He's still got bags of energy and he's got to know how to use that energy in the right areas and how he's going to be effective using his energy in the right areas.
"He's got so much more to come, but he will be a superstar if he keeps his head on and goes to the right place."
The R's are clearly willing to sell their star man for the right price, and that fee is apparently around the £20m mark.
Danny Rose arrived at Newcastle on loan from Tottenham, and it is safe to say he has had a successful loan spell.
During his brief time on Tyneside, Rose has become Steve Bruce's number one choice in the left-back decision - and with Spurs keen to offload the 30-year-old, it is likely that Rose could be returning to Newcastle permanently.
Newcastle need a left-back and with a move for previous loanee Jetro Willems unlikely, it seems Rose is top priority for The Magpies this summer.
Spurs are supposedly looking for £8m for the England international, but the implications financially with the coronavirus pandemic, as well as the age of the player - it would not be a big surprise that if that transfer fee was reduced slightly.
Schalke 04's Weston McKennie is another player on the Newcastle radar, with The Magpies looking for another box-to-box midfielder to compete with Jonjo Shelvey and Isaac Hayden for those starting two positions.
The 21-year-old has had an impressive season in Germany, netting three goals in 28 appearances - and a move to the Premier League may be the next step to bettering his career.
A move for McKennie certainly fits the Mike Ashley Newcastle blueprint of signing young players who have the potential to be sold for a much higher value than what they paid.
A fee of £20m should be enough to take the former FC Dallas man from Gelsenkirchen this summer.
Newcastle United are keen on signing Motherwell's David Turnbull, with the player apparently keen to follow in the footsteps of Aston Villa's John McGinn - by making the move to England.
The Scottish U21 international suffered with a major knee injury, which kept him out of almost all of Motherwell's current season.
The injury halted him from a potential move to Celtic, but Neil Lennon's side apparently looking to revive their interest in the 21-year-old.
The season prior to his injury, Turnbull scored nine and assisted five in an impressive 18/19 season for The Steelmen.
A fee of just £3m is set to be enough to take Turnbull away from Motherwell, which is well within the budget of Newcastle.