Liverpool have brought in speedy Egyptian winger Mohamed Salah from AS Roma and Scotland full back Andy Robertson from Hull but have not made the kind of acquisitions that would transform their chances of a first title in the Premier League era.
"Alvaro is a really good player, he's still young despite having a lot of experience", he said.
The Manchester City boss wants to raid his former club to reunite with Spanish worldwide Sergio Busquets. On the domestic front, the results were mixed as United claimed the League Cup defeating Southampton in an enthralling final before falling to Chelsea in the FA Cup quarter-finals.
Rooney also played in both legs of the Europa League third qualifying round against Slovakian side MFK Ruzomberok.
In contrast, the London clubs have been relatively quiet in the transfer market, apparently adopting the approach of not trying to fix what isn't broken.
Chelsea Manager Antonio Conte essentially admitted that the decision to sell midfielder Nemanja Matic to Manchester United was out of his hands. Sweden defender Victor Lindelof also joined from Benfica. They knew what they were doing and their manager is very driven.
"This is a guy with a huge amount of talent, that is undisputed", added Lampard.
"I looked at them towards the end of last season and the forward players they've got is scary".
But Everton has reinvested the Lukaku windfall.
Dark clouds have formed over Old Trafford in recent years but those clouds are beginning to disappear.
"If the club decide to send on loan players for their development it's because these players are not ready to play for Chelsea".
While its rivals have been spending money, Tottenham's priority has been preventing key members of the side that finished second in May from leaving.
The 29-year-old, who has been a stalwart for Barca in years gone by, made 55 appearances for the Catalan giants last season and continues to flourish in midfield with the likes of Iniesta and Rakitic.
Mauricio Pochettino's team will be temporary residents at 90,000-seat Wembley Stadium while the redevelopment of its White Hart Lane home is completed. I am happy with the effort the club did and that the club managed to do 75 per cent of the work before the Premier League starts.
United fans have every right to be optimistic.