Traditionally they are not one of the richer clubs and have had the smallest playing budget (well below the salary cap the big boys are spending to) when they've ended up relegated on their last two seasons in the premiership after previously being in the top flight for 20 odd years.
They are currently highly likely to be promoted back into the top flight and recruiting for that season. All Premiership shareholders (12 GP clubs + London Irish) received a big windfall recently following the sale of a share of the league to a private equity firm. LI are also rumoured to have received additional private investment recently so are as flush as they probably ever have been cash wise for the moment.
The prem salary cap isn't moving for the moment (and hopefully won't in the medium term), so they have a huge amount of cap space to play with in addition to two marquee player slots. Looks like they are going all out to build a far more competitive squad than they have had on the last two occasions to avoid a third successive relegation at all costs. There's growing talk of ringfencing the league, but obviously nothing is being left to chance.
Signing wise already, Rona, O'Brien, and Phipps have been confirmed, with Naholo, Paddy Jackson and Adam Coleman also strongly rumoured. LI traditionally produce a lot of talent, but tend to lose it to bigger fish so talent retention is a constant struggle. Joe Cokanasiga and Johnny Williams both left last season when they went down.