Last Season: Finished 2nd in the Premier League - 85pts
Manager - Luiz Felipe Scolari
Odds of Winning Title - 15-to-8

INS:
AMF Deco - 16m US
RB Jose Bosingwa - 33m US

OUTS:
CDF Tal Ben Haim
DF Khalid Boulahrouz
CMF Steve Sidwell
CB Harry Worley
ST Hernan Crespo
DMF Claude Makalele
CDF Slobodan Rajkovic
ST Ben Sahar (loan)
AMF Jimmy Smith (loan)

Possibles:
MF Robinho - Real Madrid
ST Obafemi Martins - Newcastle
MF Bastian Schweinsteiger - Bayern Munich
MF Diego - Werder Bremen
MF Kaka - AC Milan
ST Mario Balotelli - Inter Milan

What's Left in the Kitty - 151m US

What Lies Ahead:
Aug 16 Portsmouth (H)
Aug 23 Wigan (A)
Aug 30 Tottenham (H)
Sep 13 Manchester City (A)
Sep 20 Manchester United (H)
Sep 27 Stoke City (A)
Oct 4 Aston Villa (H)

Possible Starting XI:
GK Petr Cech
RB Jose Bosingwa
CB Ricardo Carvalho
CB John Terry
LB Ashley Cole
RMF Joe Cole/John-Obi Mikel
CMF Michael Essien
CMF Deco/Michael Ballack
LMF Frank Lampard/Michael Ballack
FW Didier Drogba/Andriy Schevchenko
FW Nicolas Anelka/Florent Malouda

How They'll Stack Up:
Chelsea missed out on the title last season by two points - in large part because of that home draw versus Wigan on April 14th.  Now, many Blues fans hope Scolari is the difference maker this term.  Our own Bobby McMahon says Scolari should be worth another 5-points to the team which would put them in front - and I tend to agree.  Chelsea have the most talented squad in the Premiership and if Scolari can get them to come together while keeping the egos in check, they should win the title.  Last season the team beat both Arsenal and United at Stamford Bridge - but then drew seven times versus lesser teams - Wigan, Fulham and Bolton among those.  That won't happen this time.  I would expect Chelsea to stay unbeaten at home - but with very few draws.  The back four are among the best in the world - and while everyone pumps up John Terry, anyone who watches Chelsea on a regular basis and keeps track, knows that Ricardo Carvalho is the MVP of that defence.  Through the middle of the park, Scolari has an embarrassment of riches - and with Lampard signing a new 5-year deal this week, it'll be interesting to see what kind of time he gets.  Coming into the final weeks here, looking at Chelsea's alignment, I had Lampard on the outside looking in more often than not.  And he may still wish he'd been more receptive to a move to Italy come November.  Scolari has been experimenting with a 4-4-2 in the pre-season but he could be more prone to using a 4-2-3-1 to get everything out of his MF.  That's what he used in Portugal - and his Chelsea MF is just as talented.  Up front, Didier Drogba and Nicolas Anelka should both have better seasons thanks to Scolari's influence - and even Schevchenko and Malouda could add a little more.  Scolari has propped them both up as players he would like to see improve.  The margin for error is so slim at the top, it's tough to pick who will win the title between Chelsea and Manchester United.  But with Cristiano Ronaldo out for two months, I think that gives the Blues the edge.  They should fly out of the gate and they look the team that is likely to be more consistent overall.  And after coming so close to the league and European titles last term, this is a team that is hungry.  Chelsea to win the title.

Coming up Friday - Manchester United

Last Season:   Finished 3rd in the Premier League - 83pts
Manager - Arsene Wenger
Odds of Winning Title:  5-to-1

INS:
MF Amaury Bischoff
MF Samir Nasri
MF Aaron Ramsey
MF Francis Coquelin

OUTS:
DMF Gilberto Silva
MF Alexander Hleb
MF Mathieu Flamini
GK Jens Lehmann

Possibles:
CMF Andrei Arshavin - Zenit St.Petersburg
CMF Xabi Alonso - Liverpool
MF Ruben de la Red - Real Madrid
CDF Vincent Kompany - Hamburg
ST Obafemi Martins - Newcastle
GK Shay Given - Newcastle
FW Bafetimbi Gomis - St. Etienne
ST Klaas-Jan Huntelaar - Ajax

What's Left in the Kitty - Around 53m US (includes completed sales)

What Lies Ahead:
Aug 16 West Brom (H)
Aug 23 Fulham (A)
Aug 30 Newcastle (H)
Sep 13 Blackburn (A)
Sep 20 Bolton (A)
Sep 27 Hull (H)
Oct 4 Sunderland (A)

Possible Starting XI:
GK Manuel Almunia
RB Bacary Sagna
CB William Gallas/Johann Djourou
CB Kolo Toure/Philippe Senderos
LB Gael Clichy
RMF Emmanuel Eboue/Theo Walcott
CMF Aaron Ramsey/Abou Diaby
CMF Cesc Fabregas/Theo Walcott
LMF Tomas Rosicky/Samir Nasri
FW Emmanuel Adebayor/Eduardo
FW Robin Van Persie/Nicolas Bendtner

How They'll Stack Up:
Without a piece of silverware in three seasons, Arsenal fans are starting to quietly question manager Arsene Wenger's vision.  It may not be quite as quiet if the side does not add to their squad in the coming weeks.  Wenger has said he needs just one more body to complete his team - but their lack of depth was exposed last season when the injury bug took a bite - and not much has changed.  Granted, Wenger's young charges only finished four points off the top and were regularly on par with the top two, but to make that jump back to the top, they need more depth - especially when you consider how Chelsea and Liverpool have strengthened this summer.  Wenger has shown himself to be an astute manager - one of the best in the world - so perhaps trusting his vision is best....And his young squad have insisted that with another season under their belts, they are better equipped to handle the rigours of the league - and Europe - this term.  Even the manager admitted he'd made some mistakes last term and while it is hard for someone of Wenger's mentality to put his faith in the unknown, he needs to do so more often and trust he's made the right buys (ie: Theo Walcott should be starting).   Last season they got off to a flying start which helped them get that early confidence and this season should be no different.  They should be able to go without a loss for this first stretch and won't face a true examination of their credentials until November when they face United at the beginning and Chelsea at the end of the month.  If they can stay healthy, there's no reason why this Arsenal team shouldn't be right there once again at the close.  But unless they bring in a few more bodies, it could be another season of disappointment at The Emirates.  And while I see them challenging for a top two spot, I don't see them getting one at this point.  Arsenal for 3rd - again.  But they're going to play some very entertaining football regardless of where they end up.

Coming up Thursday - Chelsea

Last Season - Finished 4th in the Premier League - 76pts
Manager - Rafael Benitez
Odds of Winning Title: 6-to-1

INS:
ST Robbie Keane - 40m US
ST David Ngog - 3m US
RB Emmanuel Mendy - FREE
GK Diego Cavalieri - 6m US
FW Vincent Lucas Weijl
LB Andrea Dossena - 14m US
RB Philip Degen - FREE

OUTS:
GK Scott Carson
MF Danny Guthrie
ST Peter Crouch
FW Anthony LaTellec
LB John Arne Riise
LW Harry Kewell

Possibles:
ST David Villa - Valencia
LMF Gareth Barry - Aston Villa
MF Joao Moutinho - Sporting Lisbon
GK Antti Niemi - Fulham
ST Mario Balotelli - Inter Milan
LW Stewart Downing - Middlesbrough
MF Michael Johnson - Manchester City
WG James Milner - Newcastle
LMF Albert Riera - Espanyol
MF David Silva - Valencia

What's Left in the Kitty - About 13.5m US

What Lies Ahead:
Aug 16 Sunderland (A)
Aug 23 Middlesbrough (H)
Aug 30 Aston Villa (A)
Sep 13 Manchester United (H)
Sep 20 Stoke City (H)
Sep 27 Everton (A)
Oct 4 Manchester City (A)

Possible Starting XI:
GK Jose Reina
RB Steve Finnan/Alvaro Arbeloa
CB Jamie Carragher
CB Daniel Agger/Martin Skrtel
LB Andrea Dossena/Fabio Aurelio
MF Javier Mascherano
MF Xabi Alonso
RMF Robbie Keane/Dirk Kuyt
AMF Steven Gerrard
LMF Ryan babel
FW Fernando Torres

How They'll Stack Up:
Liverpool manager Rafael Benitez has done a good job improving his squad from last season and certainly the prospects are very promising for this season.  No silverware last year but the young players showed signs of improvement and Fernando Torres emerged as one of Europe's finest frontmen.  Now they've added Robbie Keane to the mix and if they can find the cash - perhaps Gareth Barry.  I'm going to take an aside here on the Barry thing - Liverpool now look like complete idiots because they cannot finance a deal for him.  Benitez wants him but the American ownership won't pony up - and again their manager is left with egg on his face after saying he would sign Barry.  And the Liverpool farce continues....and if it carries over onto the park (which I hope it doesn't), it could be another trophy-less season at Anfield.  Reds need to start quickly - something they've struggled to do under Benitez - while coping with some absences.  They also need to secure their spot in the group stages of the Champions League - they need to be focused on the tasks at hand and not distracted by off-field matters.  In terms of the alignment Benitez will use - it looks like a 4-2-3-1 without Barry - and if he DOES arrive, it might go more like a 3-5-2.  As it stands - Keane will help provide width alongside Gerrard with Babel on the left and Torres alone up front.  It's a formidable attack that should score a ton of goals.  Liverpool's biggest problem over the past few seasons is they give points away versus lesser teams.  Turning some of those draws into wins is what's needed here if they are to challenge for the title.  And make no mistake - without a title challenge, this WILL be Benitez's last season in charge.  I don't see them breaking the top two but they could move up one spot - and a deep run into Europe could save Benitez.  But I don't think so - Liverpool stay 4th and Benitez is gone....Perhaps before the end of the season.

Coming up Wednesday - Arsenal