There is always some value to be had even if that value is that it provides us with a good player that enhances the team for now but with no likelihood of making anything for them in the future (a good cup run or the play offs would have bought money in another way). I really do not buy into this we have a good budget we have money to spend but there was no one out there we could afford that was worth it. If that is truly the case we weren't looking hard enough and we need a better manager or scouting set up to do so.
It is a different matter if you say that we couldn't persuade anyone decent to join us as that would indicate that there is something pretty wrong behind the scenes we do not know about (something I am beginning to think may be true ever since MApp and our head scout left in the summer).
What could the club have done differently? Well not sold all of the silver when you are unable to replace it. Or how about sticking with the policy that has worked so well for the past few seasons (No, I call BS on the statement that is was now impossible to find that sort of player any more). Lastly we could have looked for established players from League 1 that were available, and good players from lower leagues. Instead we decided to buy in some untried players from all over, and some old players looking for a final pay day. This is without addressing the glaring lack of pace, cover in certain areas which had the most injury prone players (could have predicated Ribero and Hall), and lack of tactical options.
Looking at the players we did bring in few if any any seem worth even their wages so even without spending money we have managed to waste it.