It depends on who is spending it. Let's just count ourselves lucky we didn't bring Txiki in at the beginning of Mansours takeover. He has been an unmitigated disaster with regard to transfers, and was more than likely kept on the promise of delivering the current manager. How that will unfold is far from certain despite what some predict.
Got to agree with this.
If Txixi remains the main man when it comes to identifying transfer targets, I fear Pep's job will be much harder than it needs to be. Although, from what I am hearing Pep has been given more control and say than any other previous City manager, including final say on transfer targets. Now, we know Pep is a decent manager, but how good is his track record at identifying decent players? I ask this in all seriousness as I genuinely don't know.
We also need to start showing some patience - as a club - and not jettison players just because they are not an instant success. I'm talking about players like Savic, Nastasic, Mangala, Schmeichel etc., who although struggling initially, had/have the potential to play at the highest level.
So, top and bottom, over next few windows, we need to clear the dead wood, start promoting from within, show more faith in players that have the potential to succeed, and invest only in top quality players (i.e. In the likes of Sane/Jesus rather than the likes of Delph/Fernando etc). A clear strategy on player retention and recruitment that has the right balance between buying, promoting and developing is vital if we are to succeed on a sustained basis.