This summer could be as much about which players Tottenham keep as opposed which players they bring in.
Reports suggest both Manchester United and Chelsea are both pursuing Croatian playmaker Luka Modric, while Gareth Bale remains on the radar of Inter Milan. Losing either player would be a significant blow to Spurs.
Harry Redknapp, however, has insisted that the north Londoners have no intention of selling their prized assets, and will only strengthen their squad this summer.
Like Arsenal and Liverpool, Spurs had made an early move in the transfer market to prise Phil Jones away from Blackburn, but were pipped at the post by United.
"We were in for Phil Jones, along with five other top clubs," Redknapp told Sky Sports News. "I think everybody was in for the boy. I think he is a lad who can one day go on to be an England centre half and maybe a captain of England. I think he is that good. He is a great signing for Manchester United."
Meanwhile, Spurs' first signing of the transfer period came in the shape of former Aston Villa goalkeeper Brad Friedel, who is expected to displace Heurelho Gomes as Redknapp's No.1 next season.
Indeed, it was the lure of potential first team football that led the 40-year-old to move to White Hart Lane rather than Anfield.
“I didn’t sign anywhere for the money, I signed to play and the chance to compete for my place with the exciting players," explained Friedel. “I really feel Tottenham have the chance to get into that top four."
Meanwhile, Redknapp is also said to be keen to bring in a goalscorer of proven quality before the start of next season, with Spurs said to be chasing Didier Drogba and Diego Forlan.
It has been claimed today that an offer has been made for Palermo forward Abel Hernandez, which was rejected by the Serie A club.
When questioned about a bid from Tottenham, Hernandez's agent Vincenzo D'Ippolito told calciomercato.it': 'It's true. But for the time being I know (Palermo president Maurizio) Zamparini has turned down the offer, although I do not know what the figure was."