The Latics have already recruited five new players for the new season and many other clubs are beginning to draft in new blood.
A significant number of players became free agents on July 1 as their contracts expired and Penney predicts many will be keen to ensure they are not left without a club.
"Things seem to be progressing as I predicted," said Penney, who is hoping to confirm another new signing this week.
"All of a sudden pre-season training is beginning and players who are unattached don't want to be left out in the cold.
"People are getting worried and starting to sort things out - they don't want to be left on the shelf."