I think we can only go for so long trying to make excuses for the lack of money that is spent.
This transfer window was critical for me with all the highly paid players now moved on and us still receiving parachute money, but nothing has changed. With the good season we had last season we really had a good feel factor at the club and a great opportunity to move forward, but so far the club has blown it.
As people have said, spending doesn't necessarily bring success, although it's very rare that club goes up automatically without spending, however, what it shows is that the owner is trying to push the club in the right direction.
I like what is being done with the kids, but it needs to be supplement with good experienced players too.