Manchester United legend Gary Neville believes Chelsea remain favourites to win the Premier League although he admits their rivals can turnaround the situation if they spend big during the remainder of the transfer window.

The Blues won the Premier League and the League Cup last season after Chelsea manager Jose Mourinho's summer overhaul, signing the likes of Diego Costa and Cesc Fabregas.

Manchester United, Arsenal and Manchester City were expected to spend big in the current transfer window in order to challenge the Blues for the title next season but they have been pretty quiet so far.

United manager Louis van Gaal has just signed the promising Memphis Depay from PSV, while Arsene Wenger's only addition to the Gunners squad has been Petr Cech.

And while Mourinho has secured the services of Radamel Falcao on loan to fill the departure of Didier Drogba, Manuel Pellegrini is yet to make any signings for City.

Neville claims the situation can change massively in the remainder of the transfer window but, as things stand, Chelsea are the team to beat.

"We're in July when teams haven't completed their business yet; that's something I think you've got to be very careful about at this stage. But as I stand here today now, I think it would be very difficult to look to past Chelsea," he told Sky Sports.

"However, who knows what is going to happen in the next month in terms of signings and how those signings will then come in and adapt."

Nevertheless, Neville still predicts the Premier League giants will add some new faces to their squads before the end of the window.

"Things can always happen and you could look at a team in a month's time and think 'they're going to take some stopping with the people they've signed', we haven't seen the transfer market flush itself out yet," he added.

"But certainly now, without the business having been done, you aren't as informed as you'd like to be, but Chelsea would be the team to beat and I think everyone would say that."