Under a competent manager, relegation is a near impossibility.
I'm not trying to defend Levy or ENIC here, but from 2021-current we're 4th in net spend and, even with the wage bill reduction* in the past 24 months we're 7th (barely below 6th) in wages.
This statistic shows, which clubs of the Premier League in the seasons 21/22 to 24/25 had the highest transfer expenditures and/or transfer incomes.
www.transfermarkt.us
Check out {stat_type} for the 2024-2025 Premier League season.
fbref.com
I've said it before and will continue to say it: not spending enough (especially on wages) is why we're not winning/competing for trophies. That's ENIC/Levy's burden to bear.
The reason we're so shit the past 18 months is solely that we are currently lumbering along under the worst manage in at the club in the past 40 years - and quite possible the worst manager in the club's history when graded according to how much has been financially invested in himself and the squad vs. the results.
The amount that ENIC spend should reasonably ensure Spurs are never credible threatened by relegation and anything lower than a 6th place finish is a failure to meet the expectations based on expenditure.
There's no real reason not to expect that Ange's replacement will finish 6th, at least, even with Levy.
*Which is predominately driven by clearing out deadwood (i.e. Ndombele, Dier, etc.) - something everyone here clammored for for years.