Beg to differ, from all the analysis in the public domain we have under spent in the windows since 115 day in Feb 2023. Last summer eg we made a large net profit. I personally believe the reason why we accepted the £85m for Alvarez without any replacement was to create the best possible supporting narrative for the hearing, all driven by legal advice. If I'm wrong and we splurge £100m++ in January, I'd be absolutely delighted to apologise for being wrong, it won't be the first time....
115 in a nutshell is our enemies accusing us of buying success with substanial funding of a dubious nature. Our defence in a nutshell is we have used legitimate business investments to create a world class club/business capable of competing on all fronts. It's going to be swayed on interpretation of facts and sadly optics, narratives and opinions will also play a huge role. Our transfer business since 115 has not been conducted by Txikki per se, it's been on legal advice. Pep's knows this too and is probably why he's so frustrated....