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.
Every teams which you mentioned above is still busy to strengthen their squad with bought some of players this because they want to improved their weaknesses but for race title obviously Manchester City will be the first favourite because in the last 10 years they were very dominate Premier league with 6 title and Arsenal also will be another favourite because surprisingly they can able to joined the race title with Manchester City last season although they were failed to gets the title but at least Arsenal has appears as new serious contender for Manchester City
Manchester United and Liverpool also are doing their best to strengthen their squad now and indeed these teams a bit different because as far i know they didn't targetting Premier League title but do not forget other teams liked Chelsea and Tottenham that with new manager they hopes can finish at top 4 so lets see who is the teams who can able to performing well later and joining the race with Manchester City