Tottenham have been active in the transfer market so far.
Joe Hart walked through the door on a free transfer while Pierre-Emile Hojbjerg arrived for £15m.
The pair of them are understated signings but it's evidence of the lack of spending power Spurs could have this summer.
Daniel Levy has been shy to spend until the last year or so at Spurs but his hands will be tied down this summer.
The north Londoners are facing losses of £200m, something that will have a devastating impact on who they can or can't sign.
This week we've seen a few faces linked with moves to Jose Mourinho's side, and that includes Demarai Gray.
That shows the type of market Spurs are operating in. It's a far cry from the type of names they'd have liked after reaching the Champions League final in 2019.
That being said, according to reports, they are actually prepared to spend if they identify the right player.
Corriere dello Sport (via Sport Witness) claims that the Premier League side actually registered a bid of €50m (£45m) alongside Barcelona, Juventus and Borussia Dortmund for Nicolo Zaniolo.
The issue is, however, that Roma aren't now keen on selling. The Serie A team have recently acquired new owners and as soon as they walked through the door they removed Zaniolo from the transfer list.
However, the report suggests that if COVID hadn't reared its ugly head, the Italy international may have walked through the exit door already.
That's because offers would have reached around €70m (£63m). Consequently, if Spurs can find an extra £20m or so lying behind the sofa, Zaniolo could be their player.
GIVEMESPORT'S Matt Dawson says...
Zaniolo is one of the rising stars of Italian football at the moment. The 21-year-old may have started just 16 times in the league last term but he was eye-catching when afforded the chance.
He scored eight goals and contributed to six assists as he demonstrated his fabulous all-round attributes. The youngster is capable of playing pretty much anywhere in midfield too.
His favoured position is in the middle of the park but Zaniolo also featured as a centre forward and on the wings in 2019/20.
One of the most technically gifted players in Serie A, he completed 2.3 dribbles per match in all competitions last season. If you compare that to everyone in the Spurs squad this term, he'd come out on top.
Son-Heung Min manages 2.1 dribbles per game for context.
It's no surprise to see he's well respected by his peers. Daniele De Rossi spoke highly of him when he was still a teenager:
"He has an incredible natural physique for someone who is only 19 and also has great technical quality. In my opinion, as perhaps with everyone now, he is already a very good player – and can become a great one," he said.
Based on that review, can you really blame the new owners at Roma for wanting to keep Zaniolo? Definitely not.
Spurs may have to say goodbye to their chase.
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