1st team squad
Keep (optional in brackets, they can be let go if we get a decent offer for them)
Dieng, [Glover]
Smith - if he recovers
Fry, Lenihan, RVDB, Clarke
Engel or Bangura
Hackney, (Barlaser)
Jones, Azaz, Silvera McGree (if he signs a new contract)
Forss, Latte Lath, Coburn (possibly go on loan)
Loanees/expiring contracts to re-sign
O'Brien - providing he does well rest of season
Thomas - give him a dozen games to see if he comes good otherwise goodbye
Ayling - if Smith's injury doesn't sort itself out
Wave goodbye
Howson, Dijksteel, McNair, J Jones, Coulson, Greenwood, Gilbert (maybe loan) Hoppe (who he?), Thomas or Engel or Bangura
New kids on the block
Not much showing in the academy. Finch should probably go on loan. I guess Agyemang and Nkrumah have been a bust.
New signings
This should be mostly about "oven-ready" Championship players at or approaching their peak who can step in and immediately improve us.
3rd and/or 2nd choice keeper. Perhaps look at Brynn or Hemming
Right Back. Cody Drameh. Maybe Kesler-Hayden on loan from Villa.
Centre midfield. Really up in the air. Hoping that Hackney stays, O'Brien comes good and we sign him. If not, we need an absolute top-class championship midfielder with strong defensive instincts. Maybe Josh Dasilva from Brentford but I would worry about him not being the same player after his injury. Darko Gyabi (loan from Leeds) to round out the unit.
Attacking midfielders/forwards. If McGree stays we can add depth. If McGree goes we need to add a quality replacement as well. In that case, Sammie Szmodics or Zian Flemming may be options. A Premier league wonderkid to make up the numbers. e.g. Leo Castledine (Chelsea) or Tommi O'Reilly (Villa)
Striker. One from Tom Cannon, Tyrese Campbell, Premier league wonderkid on loan. Don't see Archer being available in the summer but maybe in the winter. Emil Riis may be an option.
My preferred 1st team next season if everything goes to plan.
Dieng
Drameh - Fry - RVDB - Thomas
Hackney - O'Brien
Jones/Forss - Azaz - McGree
Cannon
Subs from: Glover/Brynn, Smith, Lenihan, Clarke, Bangura, Barlaser, Gyabi, Forss/Jones, Silvera, Castledine/O'Reilly, (Finch), Latte Lath
I think that's good enough to get us challenging for the playoffs by Christmas and is a minimal rebuild. At Christmas, then we need to press the turbo button.