From a fans point of view you are quite right OP, but a chairman needs to make a big decision here and make a serious decision on what the objectives are, how likely they are and the financial backing that would be needed. He then also needs to consider the cost should he back positive moves in the transfer market but ultimately fall short of CL qualification.

Chairmen will invariably sit down and have two or more theoretical budgets depending on these circumstances. Of course in this case it is not with the hindsight of having qualified for CL but with the ambition to do so the following year.

Levy may think a £10-25 million budget will be enough to keep the team competing and will give them a chance to qualify for CL if they perform well and over chive but know if they finish 5th they can balance the books. He may look to take a gamble by offering that little bit extra for some big name purchases but the expectations are raised, if Tottenham gamble and fall short what are the consequences?

Of course nothing is set in stone but the two Manchester clubs plus Chelsea are most likely to take the top three sports leaving Tottenham to fight it out with both Arsenal and Liverpool plus any other potential dark horses for one CL place, it is a high risk strategy and I can understand why Levy is reluctant to spend big. Wenger has vowed to spend this summer and you can be sure Liverpool will be more competitive next season.

I'm not saying Levy should settle but he can strengthen without putting unnecessary pressure on clubs finances and therefore making top 4 a must and hope they can build on this season or spend big and put pressure on the club from within.

Levy is a smart guy and I can't see him wanting to strain the club but he'll also want to appease the fans, no doubt he'll be excited to recruit too as a fan himself but suspect he'll spent the most he can without gambling on CL money being in any future budgets.

I would be happy with keeping bale, buying Luke shaw, moutinho, a striker (sadly it won't be Villa now) and a central defender. Kaboul will be like a new signing too. Sandro moutinho dembele what a central midfield trio

I cannot stress this enough but Avb gets very little say in transfers.

He had no say at Chelsea, he had no say at Porto, he had no say at academica, he has no say at spurs.

Avb is head coach, trains the players, tactics, etc.

Sherwood , the newish scouting team, the prawn sandwich brigade all sign the players.

I cant believe he has no say at all,? its him that has to get the team playing, wtf does Sherwood know

Not convinced at how good Sherwood is in the role of scouting, i would much rather prefer a tradtional approach were the manager/coach, identifies the players he wants.

fackin' sherwoods a fackin snake.......

"He had no say at Chelsea, he had no say at Porto, he had no say at academica, he has no say at spurs."

Then that model is doomed to fail.
The manager has his own opinions as to where his front-line squad is adequate/deficient. Whether they tally with the opinions of others or not is moot.

I bet the problem is "too many chefs and not enough cooks" .

Look like, how do you explain the fact that we are going for moutinho last day of the window mate? That's an Avb signing all the way so he must have some sort of input. He needs to be backed though.

"Look like, how do you explain the fact that we are going for moutinho last day of the window mate?"

<at least we tried> ??