The Blues have signed 12 players for close to ÂŁ150m in preparation for life back in the Premier League. Chairman Mark Ashton says the club's owners have urged him to push financial fair play rules to the limit and promised that there's more business to come.
"There will be some more arrivals if everything goes to plan. We're working hard, myself and all the guys behind ownership, Mark (Ashton) and the recruitment team. So much work has gone into attracting the calibre of player to this challenge, and that will continue over the next few days."
With George Hirst having been sold to Stoke City, the Blues are in the hunt for a striker to compete with new Brazilian Emersonn and Chuba Akpom.
O'Neil refused to be drawn on speculation that Town could try and bring Liam Delap back to the club from Chelsea. On whether adding a striker was his top priority, he said: "No, I wouldn't say top priority. We're trying to strengthen all three areas of the pitch, to be honest, back, middle and top. So we'll see how we go in the next few days.
"The idea is still to strengthen wherever we can. But there's no guarantee.
"We've done some unbelievable stuff already with the amount we've signed. So if the window closes tomorrow and this is it, then I'm happy and ready to go with the group that we have. Let's see if we can help them with a couple more. If not, we'll fight everyone with what we've got."
On his current striker options, O'Neil said: "Emersonn's been great since he's come in. Chuba's had a real new lease of life since I've arrived. Both have shown quality.
"We may be able to add a striker in the next few days, but Chuba and Emi have had a really good pre-season for us and I expect them both to be able to cause Sunderland some problems tomorrow."
He added: "We are looking for good players, as you've seen. We're working very hard to attract top talent, players that maybe the club wouldn't have been able to attract in the past thanks to the training ground. We're showing them the support that they're going to get at Portman Road.
"We've spent a lot of money because the transition from Championship to Premier League is big. There is a big, big difference. We're trying to give this football club the best chance it can have to be competitive at the level.
"Obviously, Ipswich were in the Premier League two years ago and spent a lot of money then as well. It doesn't guarantee you anything.
"Sunderland were successful last year, Leeds were successful, but spending money doesn't guarantee anything. The players that have been here, the core of the group, the club, Portman Road, the supporters, that's all going to be far, far more important than anything we've spent in the transfer window."
"There will be some more arrivals if everything goes to plan. We're working hard, myself and all the guys behind ownership, Mark (Ashton) and the recruitment team. So much work has gone into attracting the calibre of player to this challenge, and that will continue over the next few days."
With George Hirst having been sold to Stoke City, the Blues are in the hunt for a striker to compete with new Brazilian Emersonn and Chuba Akpom.
O'Neil refused to be drawn on speculation that Town could try and bring Liam Delap back to the club from Chelsea. On whether adding a striker was his top priority, he said: "No, I wouldn't say top priority. We're trying to strengthen all three areas of the pitch, to be honest, back, middle and top. So we'll see how we go in the next few days.
"The idea is still to strengthen wherever we can. But there's no guarantee.
"We've done some unbelievable stuff already with the amount we've signed. So if the window closes tomorrow and this is it, then I'm happy and ready to go with the group that we have. Let's see if we can help them with a couple more. If not, we'll fight everyone with what we've got."
On his current striker options, O'Neil said: "Emersonn's been great since he's come in. Chuba's had a real new lease of life since I've arrived. Both have shown quality.
"We may be able to add a striker in the next few days, but Chuba and Emi have had a really good pre-season for us and I expect them both to be able to cause Sunderland some problems tomorrow."
He added: "We are looking for good players, as you've seen. We're working very hard to attract top talent, players that maybe the club wouldn't have been able to attract in the past thanks to the training ground. We're showing them the support that they're going to get at Portman Road.
"We've spent a lot of money because the transition from Championship to Premier League is big. There is a big, big difference. We're trying to give this football club the best chance it can have to be competitive at the level.
"Obviously, Ipswich were in the Premier League two years ago and spent a lot of money then as well. It doesn't guarantee you anything.
"Sunderland were successful last year, Leeds were successful, but spending money doesn't guarantee anything. The players that have been here, the core of the group, the club, Portman Road, the supporters, that's all going to be far, far more important than anything we've spent in the transfer window."
Related Coverage
- Ipswich Town v Sunderland: Key stats and talking points â BBCFootball Bet of the Day: Dan Childs has a 5-6 draw-no-bet selection from the Premier League
- BBCFootball Bet of the Day: Dan Childs has a 5-6 draw-no-bet selection from the Premier League â Racing Post
- Le Bris provides latest team news ahead of Ipswich â Sunderland AFCEARLY BLACK CATS TEAM NEWS
- Sunderland AFCEARLY BLACK CATS TEAM NEWS â Ipswich Town FC