After Chelsea's dramatic win over Bayern Munich in the Champions League final on Saturday, Harry Redknapp's Tottenham side, who managed to finish fourth in the Premier League, have been denied a spot in Europe's leading club competition next year.
Alan Mullery believes that his former club will not lose a host of key players this summer despite their disappointment.
Even though the likes of Gareth Bale and Luka Modric have been linked with moves away from White Hart Lane, Mullery told Sky Sports News that he expects Daniel Levy to rebuff any offers for his star names.
"They have got into a situation where they may lose one or two of their best players, and there are going to be a lot of questions asked over the next few weeks," said the former Spurs midfielder.
"The one person who has got to remain strong is the chairman and my belief is that Daniel Levy will."
Welshman Bale, who joined the north London club in 2007 from Southampton, has recently been linked with major clubs like Barcelona, but is also said to still have a lot to learn before making a move.
"I think big clubs will come in and if huge sums of money are submitted, like if someone bids £40million for Gareth Bale, there is always a temptation to sell," continued Mullery.
"I still think Bale's education should be at Tottenham; he was magnificent in Europe the season before last but has still got a bit of learning to do."
However, Mullery, who won the League Cup, FA Cup and Uefa Cup during his time at Spurs, has warned the club's fans not to anticipate too many big-money arrivals during the off-season.
"Tottenham only get 36,000 people every other week and cannot pay the big wages like they do at Manchester City, Manchester United and Chelsea."