Break even.
It's what we've done every window for the last 5 years (winter 08/09 was the last we spent anything)
And it's what we'll do every window till the stadium opens in 17/18
If Levy is going to attract a manager like de Boer (which apparently he is doing) then he will need to offer him a transfer kitty in excess of £20m in my view. On top of whatever he can recoup in player sales.
I know we're pretty strapped for cash with everything being channeled into the stadium fund, but I feel Levy knows he's going to have to make an exception to his "break even" philosophy to get de Boer in. Benitez, on the other hand, would probably be happy to take the job without a large transfer budget - so it's tough to answer the question without knowing who the new manager will be.
So I went for £15m+ based purely on the fact that FdB is the current bookies favourite.
I went for break even.
Now for the fun part:
Sell Kaboul 4m, Verts 18m, Lloris 18m, Capoue 10m, Paulinho 14m, Dembele 15, Siggy 10m, Ade 5m. =94m
Buy Begovic 10m, Veltman 19m, Blind 9m, Clasie 12m, Bony 20m. =69m
I would then look to try and sign some exciting youngster, gomez at charlton the centre half and the kid at Milton Keynes Alli and look to a couple of foreign signings as well who would aim for the first team in a few years time. Deeney at Watford is another who interests me.
I don't think we were planning to break even last summer, its just what happened with the Bale sale.
I think we appear to be looking at a centre-forward like Lukaku or maybe Benteke again, who will be in the region of £20-£30m, a left wing-forward and a left back.
I don't think there will be the huge turnover of staff that japenesegardenlover is talking about.
If Lloris and/or Vertonghen get hit with a huge offer, we may sell and reinvest and break even again, but I don't think we'd be planning on that happening.
I think Kaboul may well leave as well as maybe Capoue and Soldado. Siggy, well, i'm convinced there's a player in there, that is better than what we've seen. It depends what the new manager wants to do. But the reality is that its hard to see us accomodating him and Holtby in the same squad, so I think it would be one or the other and I rate Holtby as the better player.
We made money last window didn't we? £6-10 million net profit wasn't it?
I think we were planning on spending £40m last summer and £20m this summer, recouping £60m from Bale. It all just got brought forward into one window and ended up being £80m.
IMO there was no real intention to invest last summer - it was just re-mortgaging against an impending Bale sale.
Just like Arsenal did, we're doing a decade of belt tightening to pay for the stadium (2008-2018). The encouraging thing is that we're actually 3/5th of the way through and few people have really noticed. Investing in young players with promise under Commoli has just been paying dividends through these last 5 years.