Not only are his club likely to be up against it in a lot of their transfer negotiations, but the boss is almost certain to allow a number of first team players to leave the club as he looks to free up valuable space and resources for new signings.
One talent who is definitely set to leave is Andy Carroll.
The target man returned to his boyhood club a couple of years ago, but has scored just once since, and will not receive a contract renewal.
"I had a conversation with Andy. I think he wants to go and play. I wish the lad all the best. I hope it goes for the rest of his career. He's certainly been a big help to me in the last couple of years, that's for sure."
Meanwhile, Bruce must now put together a 25-man squad for the new Premier League season.
The club is yet to make a signing in the summer window.
"All of the decisions of getting a 25-man squad together is what it is all about now," Bruce told Sky Sports News. "All the work begins. We have got irons in the fire for two or three things, and we’ll see what that develops.
"I’m sure there’ll be a little bit of movement. The transfer market has been extremely quiet, and I expect it to be that way, but it’ll hot up a little bit, I’m sure."
We’ve gathered the best of today’s Premier League speculation below…
. NEWCASTLE UPON TYNE, ENGLAND - MAY 02: A general view of the action as the shadow lengthens across the pitch during the Premier League match between Newcastle United and Arsenal at St. James Park on May 02, 2021 in Newcastle upon Tyne, England. Sporting stadiums around the UK remain under strict restrictions due to the Coronavirus Pandemic as Government social distancing laws prohibit fans inside venues resulting in games being played behind closed doors. (Photo by Stu Forster/Getty Images)
St. James Park. (Photo by Stu Forster/Getty Images) Photo: Stu Forster
. March set for new deal
Arsenal, Tottenham and Leeds were all keen to sign Solly March, although he now looks set to stay at Brighton. (90min) (Photo by Mike Hewitt/Getty Images) Photo: Mike Hewitt
1. March set for new deal
Arsenal, Tottenham and Leeds were all keen to sign Solly March, although he now looks set to stay at Brighton. (90min) (Photo by Mike Hewitt/Getty Images) Photo: Mike Hewitt
2. Maitland-Niles in demand
Leicester City, Southampton and Burnley are all interested in a move for Arsenal midfielder Ainsley Maitland-Niles. (BBC) (Photo by Rui Vieira - Pool/Getty Images) Photo: Pool
3. Livramento nears Brighton deal
Brighton are making a “final push” to arrange a transfer for Valentino Livramento, who was named the Chelsea Academy Player of the Year last term and has one year left on his initial professional contract. (Goal) (Photo by Mike Hewitt/Getty Images) Photo: Mike Hewitt
4. Roberts could be sold
Swansea City could sell reported Burnley target Connor Roberts following Steve Cooper’s departure from the dugout. (The Athletic) (Photo by Dan Mullan/Getty Images) Photo: Dan Mullan