The summer transfer window is in full swing, but Tottenham Hotspur, much to the frustration of their supporters, have yet to bring in any fresh faces. While Manchester City, Chelsea, and Liverpool have been the main movers so far, Spurs, who recently clinched the Europa League title and are set to compete in the Champions League next season, were expected to make significant strides in the market. The appointment of Thomas Frank as head coach and chairman Daniel Levy's ambition to win the Premier League and Champions League add to the anticipation among fans for a summer of meaningful action. However, the arrivals at Tottenham have been limited to players already within the squad. Mathys Tel's permanent move from Bayern Munich, Kevin Danso's permanent deal from Lens, and Luka Vuskovic's transfer from Hajduk Split are notable, but the first major signing is expected to be Kota Takai from Kawasaki Frontale, a 20-year-old Japanese centre-back, pending his departure from his current club next week. But why the delay in big-money moves? Here are five potential reasons:

1. Awaiting Investment

Transfers come with a cost, and Tottenham, despite being one of the most valuable clubs in the world, are often criticized for being asset-rich rather than cash-rich. Chairman Daniel Levy publicly admitted a year ago that the club needs new investment to compete with their rivals. So far, this investment has not materialized, leading to speculation that ENIC might need to inject funds into the club in exchange for a larger stake.

2. Wage Structure

Tottenham's wage structure, which is performance-driven, has been a topic of discussion. The club's lower wage ceiling compared to rivals can make it challenging to attract high-profile players, as targets often demand higher salaries. The Europa League win might have resulted in significant bonus payments to players, which could be a factor in the current transfer situation.

3. Target Players' Availability

The transfer market is unpredictable, and the availability of desired players can influence a club's ability to make signings. It's possible that Tottenham's targets are still negotiating with other clubs or are tied up in contract discussions, leading to delays in potential deals.

4. Transfer Strategy

Every club has a unique transfer strategy, and Tottenham might be taking a more calculated approach this summer. This could involve waiting for the right players to become available, or negotiating for lower transfer fees or favorable contract terms.

5. Financial Considerations

The financial impact of the pandemic continues to affect clubs, and Tottenham is no exception. The club's losses from a lower Premier League finish and the need to balance the books could be factors in the club's cautious approach to the transfer market.

As the transfer window progresses, Spurs fans will be hoping for some exciting new additions to strengthen the squad and build on their recent successes. The club's silence in the transfer market so far has certainly raised eyebrows, but patience may yet be rewarded.

Stay tuned for updates as the transfer saga unfolds.