Buy -
Balanta - maybe loan back to current club if you don't sell anyone
Timo Werner
Pugliese - on a free I think?
Jonathan Silva - A very good replacement for Cole, and doesn't cost much
Pogba/Januzaj - if you've got the money, why not? They both become ridiculously good. Sell Jobi Mikel if need be.
You can sell quite a few of the fringe players, and after a season or so players such as Chabolah can break into the starting line up. Eto'o does a good job for a year, Ba and Torres aren't all that bad, plus Torres is very difficult to sell. Costa is the answer for a quick impact though. I've got a Southampton save running at the moment and I've loaned Zouma since the second season up until the fourth, he's been in the first team the whole time, not quite the same standard but he's usable from day one.
Then just loan everyone else out.