I'm really not sure we are capable of that any more - there's so much competition from the sugar daddies, the Spanish two, Bayern and the established clubs here of Liverpool and Arsenal that I fear players have too many potential options compared to even when we signed Ronaldo.
Have we ever really been good at building from a position of strength? In the summer of 2008 we were on top of the world as European champions, yet we were in the process of losing our best player and fecking around with Levy the Ego at Spurs over a relatively small difference in valuation on Berbatov, which we had to pay in the end anyway as City won the lottery on the last day of the window. Now Real are European champions, and have spent over £70m on James Rodriguez, who they don't really need. Very different philosophies.
Even in subsequent summers, we've in a position of either being defending or narrowly beaten champions, or Champions League finalists, or at the very least basically guaranteed Champions League participates. Now we have heard talk of Sanchez not being interested in us as we failed spectacularly to qualify for the Champions League without Sir Alex, with him apparently preferring to join Champions League no-hopers Arsenal.
We're no longer in a position of strength, which makes strengthening now even harder.
I'd agree, despite them being also-rans in the Champions League, I have to admit they are stronger than us right now. My mixed 11 would probably look something like this:
De Gea
Rafael---Koscielny---Mertesacker---Gibbs
Ramsey---Arteta
Sanchez---Mata---Ozil
RVP
Gibbs over Shaw due to top level experience, but neither side has a fullback from the top draw. Not sure about the central-midfield exactly, but don't see anyone from us above the Arsenal lot (though Herrera has a decent chance), but we of course have the edge in strikers (though who knows how RVP would work in an Arsenal system?
). Basically I don't think we can be as arrogant about Arsenal as in recent years.