Right now i would go with
Mustafi out
Xhaka out
Elneny out
Cech out (retiring)
Ramsey Out (free)
Ozil out (because he does not fit Emerys style, despite probably being our best player)
Kolasinac out
Lichtsteiner to the scrap heap, this guy gives me nightmares
Loan out Nkeitah, Smith-Rowe, Dinos and Willock for experience (the 3 attackers to German clubs and Dinos to a relegation battling Premier League team)
Use Monreal one more season until we can get a youngster to compete with Grimaldo, It seems Emery really wants to use a back 4 and Kolasinac is a terrible defender, but great LWB further up the pitch, so we are better off cashing in on him because he will have some resale value.
then..
Sign Welbeck to a 1 year extension on the same wages to be used as 3rd choice striker and Nkeitah needs game time to develop
Use either Ospina or Emi as our number 2 or sell both and buy Pope
Use Chambers as RB cover (also as DM and CB cover) and sign a young RB who can breakthrough.
Use Reiss Nelson on the right, phasing Mkhy out over the next season to sell season after
1 of Pepe/Pavon/Lozano/Under/Zaha or similar to play RW
Nkunku as rotation b2b
Ndombele or Rabiot on a free (which probably would not happen because of his wages) as starting b2b
Manolas
Alex Grimaldo
Carrasco or Suarez for LW
Then i would play like this, which may be unrealsitic in functioning as a unit (but looks good on paper)......
----------------------------Lacazette-------------------------
-------Auba--------------------------------------New RW--
-----------------------------New B2B------------------------
-------------------Gunedozi-----Torreira-----------------
Grimaldo--------Manolas---Sokratis--------Bellerin
--------------------------------Leno----------------------------
Or if money is tight, sign players like N'Zonzi and Banega to make us more solid with view offloading them once we are back in champions league with better players.
I wouldn't personally keep Suarez but i think we need more utility players, i love Carrasco, although i like having Auba and Laca upfront interchanging, maybe on paper, even though they link well, its not ideal, i think a RW is a must at the expense of Mesut Ozil who is aging, not getting on with the boss and earning crazy money.
I think every top club in Europe now is using these pressing style formations like 343 and 433 and the stationary advanced playmaker number 10 style role is becoming outdated and he can't really play anywhere else, only Bayern off of the top of my head use a number 10 most weeks, obviously teams do use them on occasion, but he is a expensive 'bit part' player to have, so thats my reasoning on that one.
I keep hearing about this Fornals guy, maybe he is a option, never seen him myself, but thats overall what i would do.
Obviously i'd love Rabiot but i think he will be asking for Ramsey/Juve style wages, and we really do not want to be in that boat, i think 200k is maximum what we should be paying to a top player weekly given that our board inserts no cash into the club, plus if hes a flop, or falls out with players/manager (he is notoriously difficult) we will be stuck with another Ozil liek situation, a expensive bit part player.
I don't want us to sell Guendozi, but if 60m came in for him like the PSG rumors i'd take it and use it to strengthen.
I also think if we are changing up that maybe a false 9 or target man would work better infront of/alongside Auba or Laca rather than playing both, because i think Lacas game is affected by having to support Auba, being a more attacking player naturally, hes not the ideal player for the role imo (although he plays his heart out trying to do it).
I don't know whos really available for that outside of the obvious aging ones like Benzema and Giroud (shudder), there will obviously be players like that out there, but with Welbeck looking like he is going to get released, it would be nice to see some kind of player like that upfront, with Auba left and a winger right, then a CAM that is more defensive as well as attacking like Banega if playing 4231, or scrapped for a B2B if we are playing a 3 man midfield or 3 defenders.
I love the idea of Manolas and Sokratis but i do think that Holding would be needed at the back with the way Emery plays.
We could also play like this with if i'm being realistic about function...
---------------Support Striker?-------------
Auba------------Banega----------------Pepe
------------B2B MF------Torreira-------------
Grimaldo--Manolas--Holding--Bellerin
-------------------------Leno----------------------
Carrasco--------------Aubameyang----------------Pepe
-----------------------B2B MF-----Torreira------------------
Kolasinac--Sokratis--Manolas--Holding--Bellerin
-------------------------------Leno------------------------------
Which on paper does not look as good, but will be more functional both ways in attack and possibly in defence (jury is out).
Excuse wall of text