Well, if Manchester United is successfully acquired by Qatar. Most likely, they will be quite strong competitors in this competition. to be honest, I'm pretty sure with Ten Hag's ability to mix his squad into a strong team, they will be much better than what they have shown this season.
On the other hand, I don't expect much from the Gunners in this competition. but at least, with some newcomers they have to prove their toughness and solidity. this team, is my favorite squad than the other teams that I mentioned.
I honestly expected them to get Jude for that place, he would have been the most perfect transfer they could ever do and would fit like glove, they didn't and it's alright. I think it would be possible to put another 100 million on that, and with 200 million they could get 2-3 players, all to replace the ones that left. This is why I believe they will do what they need to do and could make a great return and potentially win it all again.