I think the main reason we haven't signed anyone is that Chelsea/City/Monaco/PSG/Madrid have all paid stupid prices for players so the market right now is inflated to the extreme, a couple of seasons ago for instance there is no way a club like Everton reject bids of £28m and £36m for players like Baines and Fellaini, and there is 0 chance they would have felt able to call the former bid insulting either, but when they see players like Fernandinho going for £34m and Bale for £86m, et al, they think they can get much much more than the asking price for players, unfortunately this seems to have hit the asking price of the players we want more than others, largely I suspect because we aren't going to pay stupid money for players who aren't worth it like City and Chelsea, but also because we are looking at better quality players than Liverpool or Tottenham as examples. I think this is also probably behind Arsenal's lack of spending, both clubs have been left a bit miffed by clubs asking for them to pay City/Chelsea prices for players when they don't really see the value in doing so, City or Chelsea can afford to waste money because they have oligarchs to turn on the money tap, for clubs that don't it really puts more pressure on to find value, the problem is that in this market value just doesn't exist.