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Tottenham Hotspur have plenty of work still to do in the summer transfer window.
Mohammed Kudus is so far the big-name, big-money signing, having arrived from West Ham United for £55million. Mathys Tel made his loan move from Bayern Munich permanent, while Joao Palhinha has also come in from the German champions, initially on loan for the 2025/26 season.
Then there's Kota Takai, a Japanese centre-back who is highly-rated and has arrived in N17 from J.League side Kawasaki Frontale in a £5million.
Supporters are getting antsy, particularly after a thumping 4-0 defeat to Bayern in their final pre-season friendly on Thursday night, with the feeling that Thomas Frank 's squad is incomplete and not yet ready for the rigours of the Premier League and Champions League.
Frank wants another centre-back and is also keen to enlist another player to take on the No.10 role, with Dejan Kulusevski still a long way from returning from a knee injury and James Maddison likely out for most of the season with an anterior cruciate ligament injury.
The Spurs boss also admitted he could add strength in depth to the wide position, now Son Heung-min has called time on his ten-year Tottenham career.
Bringing in three players in those positions will not come cheap, but Spurs do not have to look for bargain transfers.
According to football.london's financial correspondent Dave Powell, Spurs have plenty of money to play with when it comes to Financial Fair Play rules and the Premier League's Profit & Sustainability Rules.
Powell said : "For the cycle up to 2024/25, which will be assessed by the Premier League before the end of the year, the £61million loss from 2021/22 drops off and, assuming the same amount of allowable deductions at £93million, Spurs will have absolutely no issues with PSR. In fact, the club's PSR position will become even healthier if they come under the £61million loss threshold, which they will likely do.
"The headroom the club has could well push past the £350million mark for the current cycle and, while that suggests that it should be 'open wallet time' at Tottenham, the big thing is making sure that the club can cashflow new additions, and improving their player trading in terms of outgoings, with it being one of the areas where many of their rivals outperform them."
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Chairman Daniel Levy is not just going to drop £350million in one go on new signings for Frank, but just imagine if he did. How could Spurs transform their squad for Thomas Frank?
We have already reported at football.london that Tottenham could solve two of their transfer problems by going to Crystal Palace for Marc Guehi and Eberechi Eze. Guehi will cost around £50million, with Eze having a £67.5million release clause. That's a £117.5million splurge straight away.
If Tottenham want to sign another winger they should look no further than Real Madrid's Rodrygo, who has been linked with a move to north London regularly this summer. He would likely cost around £80million.
Filling three holes for £197.5million, Frank would still have more than £150million to spend.
Nicolas Jackson has been linked with a move across London if Richarlison were to leave, but he would cost around £70million to £80million too. Tottenham might be better served going all out to hijack Liverpool's move to sign Alexander Isak from Newcastle United instead.
The Magpies want £150million and rejected a bid of around £110million from Liverpool for the Swede, who could join compatriots Kulusevski and Lucas Bergvall at Spurs. A bid of around £125million would surely get the deal done, without having to reach the £150million mark and still leave Spurs with £27.5million in the bank.
That money could be spent on a new full-back - with Djed Spence the only recognised cover for Destiny Udogie and Pedro Porro. ben Davies can obviously play there as can Archie Gray, but £27.5million might tempt Fulham into selling Antonee Robinson.
A sum of £350million does not go very far, does it?
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