Even though the new season hasn't started yet, I believe Manchester City, Arsenal, Liverpool and Manchester United have a big chance to be the favorites for the title. The main favorites are Manchester City, followed by Arsenal, but I doubt the other two teams I mentioned as well.
If Manchester City are really capable of winning the Premier League title next season, then it will be their 4th title in a row, too good to be true. But I also believe that some Premier League teams will try to stop Manchester City's dominance, even if it's difficult.