Ex-Sunderland, Wigan, Blackpool and Sheffield Wednesday man joins League Two club after Australia stint
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However, Lee Johnson says the financial impact of COVID-19 led to 'stagnation' of the transfer market this summer.
But Sunderland hopeful of making at least one breakthrough in the near future.
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Former Sunderland attacker joins League Two club
Former Sunderland, Blackpool Wigan Athletic and Sheffield Wednesday attacker Callum McManaman has joined Tranmere Rovers.
The club will compete in League Two again next season after failing to gain promotion last season.
McManaman made 26 appearances in all competitions as Sunderland were relegated from the Championship to League One at the end 2017-18 season.
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Hide AdThe 30-year-old had been playing for Melbourne Victory in Australia's A-League for the past 12 months.
“We have worked very hard to sign Callum and it has been a long pursuit," said Tranmere boss Micky Mellon.
"He has wanted to come here right from the start but it is not as easy as that to make it happen, we have had to do all of the necessaries to make sure the move happened.
“To get the type of quality that Callum possess into the building shows the intent of the football club and where we want to be.
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Hide Ad"I am sure the fans will be excited by this signing and they will be looking forward to watching him play for Tranmere.”