We've had zero net spend for 16 consecutive windows since the stadium was first announced.
And we'll be lucky to raise £8m combined from our unwanted players (Yedlin and Fazio).
Personally I think we're in for a very quiet, and thankfully settled, summer.
Townsend's 12 million pounds remain unspent. Yedlin and Fazio might go for 8 million pounds, admittedly, but that makes 20 already. Bentaleb might raise quite a bit, if he's sold, and that could then free up room for Onomah to become Dembele's direct understudy/rotation option while also giving us money to spend on top-quality additions in terms of Dier and Kane's backup. If Mason is sold (not that I'd want that, but it's not impossible given his poor form due to his niggling injury), then we're looking at at least 10-12 million quid, which would be a benchmark for how much Bentaleb might bring us.
There's a lot of money available for us to spend, whichever way you cut it - even if Levy decides he doesn't want a net spend again. And personally, given that the 'human resources fetishization' has seen us bring in players like Toby Alderweireld, our Player of the Season (who, if I recall, you were dubious about) as a replacement for Fazio, and Son Heung-Min (who's scored three goals in the last two difficult games, and been our brightest spark while doing so) as an option on the wing...I think it's wise to keep on looking for quality players. If they're cheap, great. If they're expensive, go for them anyway if that's what Poch wants.
And believe me, I really don't think he wants to persist with inferior players for the sake of 'organic' growth as much as people like to believe he does. It didn't prevent him spending big at Southampton (smashing their transfer record, if I recall), and it won't do so here. Which I welcome - he's put more focus on youth players than any recent manager at the club, and he should be allowed leeway to spend on the players he feels are necessary to keep us competitive in the CL and the PL simultaneously.
Which, for all their merits, players like Mason and Carroll just don't seem to be, unfortunately. We've got great backup in some areas (GK, full-backs, CB with Wimmer, attacking midfield with N'Jie, Son and Chadli, who I think is a better player than people give him credit for being), but we could badly use quality reinforcements in others, DM/CM and up front in particular.
Which, personally, I think Poch recognises as well, which is also why he explicitly laid out his interest in players like Batshuayi and Umtiti earlier last month - players who would cost big fees if signed, and certainly not the sign of a man who intends on using Shayon Harrison and Carter-Vickers to plug the gaps.