I've been saying this for a while and actually thought we would spend a bit more in January too - it's not just blind optimism.
Beale turned down a Premier League job and would have been offered others, so he wasn't going to come here without the right assurances, especially around the budget. He's a football man who would have made the decision primarily based on football reasons - he knows he has to win trophies here and he needs money to do so.
FFP was also one of our main limiters last summer after 'overspending' around Covid. We had to wear that, and wait for Europa League money and Champions League money to be accounted for. Europa League money will be in the next set of accounts, and Champions League money in the set after that.
Our wage bill will also go down by around a third after the summer if nobody who is out of contract renews, with the likes of Barisic, McLaughlin, Roofe & Lundstram also out of contract in 2024, all of whom could leave either this summer or on a free next year.
The long and short of it is we didn't even spend the Bassey money last summer. When you account for our unexpected European money, plus the funds raised for Aribo, plus players going off the wage bill, plus potential sales for up to £10m (Kamara, Barisic, Wright, Roofe, Lundstram could all raise some cash), we should be looking to spend £15m at a minimum. Hopefully with some quality Bosmans, the majority of that can be spent on attackers and a centre mid.