Tottenham are left searching for answers as to how a season of such promise has unravelled so dramatically.
This is a club that can still point to a European trophy, world-class training facilities and a stadium widely regarded as among the finest in the game. The squad comprises established Premier League performers with international experience.
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Yet those advantages have not translated into results. Tottenham are out of all cup competitions despite beating Atletico Madrid 3-2 on Wednesday night and find themselves entrenched in a relegation battle that few would have expected at the start of the season.
Dropping into the Championship would represent one of the most significant failures in modern top-flight history. For Chris Waddle, the former Tottenham winger and the club’s Player of the Year in 1988, the roots of the problem lie in recruitment.
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“Unfortunately, they don't invest in the team,” Waddle told Express Sport with Ozoon. “And they can turn around and say: ‘We've spent so many millions over the last two or three years.’ But it's on potential. So let's get it right.”
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Waddle argues that Tottenham’s approach in the transfer market has lacked conviction, particularly when compared with their domestic rivals.
He said: “Until Tottenham start buying players who people go: ’Wow, what a signing,’ Man City are going to buy Antoine Semenyo, they're going to buy Marc Guehi from [Crystal] Palace.
“Two internationals, two good players, bang on the game, bang on form. Why are Spurs not buying those two? Straight away, why?”
Manchester City moved decisively in January, signing Semenyo and Guehi for a combined £82.5m after both had impressed at the highest level.
Tottenham, by contrast, committed £47.5m to Conor Gallagher and the young left-back Souza, neither of whom has yet made a sustained impact.
The context around those decisions has also shifted. Daniel Levy, the Premier League’s longest-serving executive, departed after 24 years in charge, removing a figure who had often been the focal point for criticism.
Responsibility now sits more squarely with the club’s current leadership, and Waddle suggests that without a rethink of priorities, they are doomed to repeat the same failings that allowed their captain and talisman to leave in another grave mistake.
“Until they start thinking about the football side before the commercial side, they will always be a nearly team,” Waddle added.
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“And unless they start buying players and making statements of: ‘Wow, what a signing’, until they start doing that, there'll always be a chance that, yes, they could finish top four, but there's a great chance they could finish bottom four.