The Barclays Premier League returns today after a three-month break, in what promises to be another breathtaking season. Global television audiences suggest that this is considered as the most spectacular domestic football league in the world. Last season’s drama in which Manchester City pipped their rivals on goal difference, scoring twice in injury time on the final day of the season, is a hard act to follow, but judging from the transfer dealings so far we are set for thrilling times yet again.

Sir Alex Ferguson’s vow to bring the title back to Old Trafford meant that United has been very active in the transfer market, trying to bolster their squad especially in attack. The signing of Robin Van Persie represents a major coup for the Red Devils who now have plenty of fire power upfront. In their quest for a record 20th title, United can field an attacking partnership which last season netted no fewer than 57 goals in the Premiership alone. As the old Glaswegian has been highlighting, this season promises to be a repeat of 1999, when under his leadership United achieved the treble, winning the domestic double and the Champions League. Comparisons have already been made with the squad of ’99 which included Dwight Yorke, Andy Cole, Teddy Sheringham and Ole Gunnar Solskjaer. This time around, besides relying on their fantastic partnership of Rooney and Van Persie, United can also rely on Javier Hernandez, Danny Welbeck and Shinji Kagawa, who will undoubtedly have an opportunity to prove themselves against lesser opposition. With an average of two games per week, squad rotation is nowadays a must. To his credit, the Scotsman has always managed to get the best of his squad in the final months of the season which are the most crucial, as Tottenham fans may recount following their dismal series of results from February onwards.

The other side of the coin is that United are now facing a serious threat to their domestic dominance not only with the emergence of their city rivals who have unlimited funds, but also from Chelsea who have also been splashing the cash in recent weeks following their contrasting season in which they finished fifth in the league, but unexpectedly lifted the ultimate prize in club football. Critics have described United’s decision to spend £24 million on Van Persie as a desperate measure considering he is already 29 and had only one year left on his contract before becoming a free agent in 12 months’ time. In football, money does not guarantee success as Liverpool know so well following their disastrous season in which they could only finish in eighth place despite spending £120 million. During his 26-year reign at Old Trafford, Sir Alex has always harped on investing in youth and promising players rather than opting for the easy way out and splashing cash on players at their peak. The signing of Van Persie is in sharp contrast to this philosophy and is further evidence that time may be running out for the Red Devils. The days when they relied solely on their promising players to fulfil their potential may be over. At the same time, even though the club has evolved as one of the most global brands, its financial situation is still an area of concern due to the huge rise in debts following the takeover by the Glazer family in 2005.

Surely, United cannot afford to get it wrong this season and another trophy-less year would probably signal that Ferguson’s reign, who nevertheless will always be regarded as one of the most successful British managers ever, may be coming to an end.

Meanwhile, the battle for the top four spots promises to be another intriguing chapter with the likes of Newcastle, Arsenal, Tottenham, Chelsea and Liverpool all battling for third and fourth, assuming that the Manchester clubs will be sharing the top two positions for much of the season.

This is the time of the year when optimism is high with fans, players and managers eager to prove themselves. However, if results do not go their way, they will soon be making the headlines for the wrong reasons. Though it may seem ridiculous, the future of some managers may be already in the balance by the end of the month.