You're right, it really should be that obvious.
I presume the Europa League wouldn't be a) as much of a pull and b) give us a great deal more cash to strengthen though.
Assuming;
1. we have no decent young players to come through next year (I don't know if this is true, but let's assume that is the case)
2. that Jay Rod gets fit before next summer and stays
3. likewise JWP
4. We don't lose any more players (!!)
What do we need, a goalie, another right back, a centre back, a defensive midfielder, 2 forward players?
If we get some decent young players come through, then bonus. If we lose any existing players (which could easily happen still), then Europe will still be a step too far for the squad.