In my first season as an Arsenal manager in FM16 i bought the following players:
Complete striker: Breel Embolo (highly recommended). I bought him for 17 mil + 5 mil bases on goals and international matches. He smashed in 39 goals and gave 13 assists in 52 games.
Right Winger: Gabriel Barbosa. Absolute bargain for 19 mil as a stand-in for Walcott. Let him play the same as Sanchez only on the other side. As a second choice he gave 21 assists and made 13 goals the first season.
Centre back: Eder Alvarez Balanta for 7 million. It's almost cheating to get him. He is a beast.
Bought Hojberg aswell for 26 mil, but he comes after his loan at Schalke in 2016. He plays as regista now. Absolute class.
I just started my second season and got Kurzawa (left back) and John Stones (centre back). Stones is amazing with Koss the Boss at centre back.
Don't forget to look at your own youth teams. Bielik and Maitland Niles are absolutely two players you should stimulate to reach their full potential. They'll become world class players.
Sold Giroud, Monreal, Mertesacker, Ospina, Gabriel Paulista, Flamini, Arteta and some more who are absolutely a waste on wages since i don't use them anyway.