Idrissa Gana on loan would be perfectly acceptable as the DM. He's got a year left on his contract at PSG and they want him gone. If he was younger I'd say put in a bid for him but at 32 (33 in September) I don't see the point in paying a fee. Just cover some of his wage, and try to shift Gomes to recoup the outlay.
Then get Knight from Derby. We can surely afford him. Slot him in to CM.
Then get MGW as the actual money signing. Stick him wide right.
Total outlay: less than £40m, with not even half of it up front.
Week 1 lineup (before any further loans) would then be:
Pickford
Patterson - Mina - Tarkowski - Mykolenko
Iwobi - Gana - Knight
MGW - DCL - Gordon
Begovic
Coleman
Holgate
Godfrey
Allan
Doucoure
Davies
Gray
Any forward who isn't Rondon