Spurs manager Mauricio Pochettino has blamed Brexit and the cost of building a new stadium as the reasons why Tottenham went the whole transfer window without making even one signing.
Spurs did try to buy the promising young talent Jack Grealish from Aston Villa on deadline day, but they failed as Villa stood firm in their resolve of not selling the player at any price.
Spurs have now become the first ever Premier League club not to make a summer signing since the window began in 2003.
"What the club is doing is showing it is so brave," Pochettino said. "Building a new training ground, finishing this summer the (player's) lodge was a massive investment.
"Building a stadium that is nearly £1bn. That is true, don't believe in £400m, that is the truth. Then with Brexit it's worse because the cost is 30 per cent more. That is a drama, I feel sorry for the English people.
"For me [that] is to be brave. Of course maybe in the mind of everyone they will say, 'Oh Tottenham didn't sign', but to sign for the sake of signing?
"You need to respect all the opinions but of course we are a club that our decision was not to sign, (even though) it is the fashion to sign or because we are the only club in Europe that has not signed players.
"That maybe looks bad because of the perception and because of the history of football, but that is our decision - to keep the best players and to keep the squad. It's a brave decision."
Spurs begin their Premier League campaign against Newcastle United on Saturday, 11 August (KO - 5pm IST)