A few points.

Spending is relative. Yes we spent lots of money on improved contracts to retain players but so did other clubs plus additional money for new players so that is a net negative.
Transfer spending for us doesn't have to be a negative as in the case of Naismith. I trust Webber could have spent 15-20 million well on player/players that would still have that value even if relegated. It's a false notion that money spent would have been wasted.
I will continue to repeat this line ad nauseum. "Lots of teams have been relegated from the Premier league spending money. NO teams have survived by not".

Posted By: SeattleSounders, Dec 28, 15:45:06