Bayern have made the big splash to sign striker Robert Lewandowski from Borussia Dortmund, but outside of the Pole's arrival, only Valencia left back Juan Bernat and Eintracht Frankfurt midfielder Sebastian Rode have joined the club, with Pepe Reina also set to join the ranks at the Allianz Arena.
Meanwhile, previous key players Mario Mandzukic and Toni Kroos have both left the club for moves to Atletico and Real Madrid respectively, and there could have been another departure in the form of Swiss international Xherdan Shaqiri. The 22-year-old found it hard to play last season behind the likes of Arjen Robben, Franck Ribery and Thomas Muller, leading to speculation of a summer exit.
Both Arsenal and Liverpool have been linked with a move for the former Basel youngster, whilst a handful of Italian teams have also been watching his situation with intent. However, Bayern chairman Karl Heinz Rummenigge says that the club have spurned all approaches for Shaqiri as they believe he still has a part to play under Pep Guardiola.
"We've had several enquiries from teams in England and Italy," said Rummenigge. "I've never had a conversation because we are convinced he will have a good career with us. He must stay healthy [but] the coach is convinced by him."
The news may serve as a blow to both Arsenal and Liverpool, who still appear to be intent on adding forward players before the transfer deadline in less than a month. However, after impressing at the World Cup with a hattrick against Honduras, Shaqiri needs to start playing regular first-team football in order to show what he can do.
His situation doesn't project to be much better this season, and if he continues to sit on the sidelines, then Arsenal and Liverpool could return with offers in January or next summer, where their efforts may be more fruitful.