Chairman Daniel Levy has defended Tottenham’s lack of transfer activity this summer and claimed the spending by other Premier League clubs is unsustainable.
More than £850m has been spent by top-flight sides in the transfer window, which ends on 31 August.
But Tottenham, who sold Kyle Walker to Manchester City for £45m this month, have not made any signings.
“We have a duty to manage the club appropriately,” said Levy.
“Some of the activity that is going on at the moment is just impossible for it to be sustainable.
“Somebody spending £200m more than they’re earning, eventually it catches up with you. And you can’t keep doing it.”