I can understand why we're not picking up Fernandes considering:
a) He wasn't that impressive, apart from a few reasonable performances.
b) That he gave us the run-around this time last year.
I'd imagine we'd also be in the mix for the cream of the relegated sides, i.e Stephen Hunt, Kevin Doyle etc. The big word on the grape vine is that we'll land Sean Davis from pompey atm.
What we really need more than anyone is just a classy midfielder who we can rely to win us games... and I doubt we'd get Arshavin.
Also, we pick up £1.5m from Utd via the Rooney deal.
Well to miss out on Fernandes and pick up average squad players at best in Hunt and Davis etc that is a kick in the nuts if we are looking to improve.