[long, weary exhale...]
I mean, he's right - this summer is going to be a total cluster-fuck when it comes to signings, and we need to brace ourselves for that. Not only are we going to have all the traditional big-spenders around Europe to contend with - we've also got every other team in Prem to compete with now too! Competition for even the most mediocre of players is going to be fierce, and with prices likely to sky-rocket, even a budget of £100-200m could disappear on just 2 or 3 players!
(And, to be fair to him, at no point does he say our summer transfer activity will definitely be limited - just that it's going to be tough.)
That being said, I don't really have too much sympathy for him, as this is largely a situation of his own making. Whilst there's nothing much he can do about the economics of the situation, it has to be said that, if he'd been more proactive in recent summers, and addressed some of the problems that have been obvious to everyone for years, then the spend that we're looking at this summer would be minimal, and we could afford to be a bit more discerning with the moves we make.
And I'm sorry, but you can't afford to bemoan things like value for money and the clamour for signings when you've basically allowed the standard of the scouting network and the academy to go down the toilet on your watch! Fair enough, it looks like we're taking steps to address both to those issues, but it could still be a while yet before we start seeing the kind of output that we expect from both? Until then we've just got to get on with it, I'm afraid. If that means having to burn away that entire £200m of savings that have taken him 10 years of scrimping to build up, then tough! Use the whole experience as a lesson, and make sure we don't end up in the same situation again!