Well how much money have we spent over the years? Who's to say what is too much to spend and what is ok? The reason Chelsea buy players for £20 million + is because a) they can afford it and b) other clubs know perfectly well they can addord it so bump up the price.
To some clubs, the thought of shelling out £5 million, let alone £10 million is obscene, but they are still able to improve - Bolton & Everton spring to mind.
Man U will probably win the title this year, and they didn't need to spend £200 million in 2 years in order to do so. We our financially capable of strengthening our squad on a yearly basis, bringing in big names and hidden potential, but we squander a lot of it on second rate players like Ghaly, Malbranque, Stalteri and Lee.
It's not Abramovich's fault that we're still unable to break the Champions League mould.