Mauricio Pochettino said is happy with Tottenham's squad and praised the club for keeping Harry Kane as he blamed Brexit and Spurs' new stadium for no new signings.
Tottenham tied down star striker Kane on a long-term deal but they failed to reinforce their squad before Thursday's Premier League deadline.
Spurs were linked with Aston Villa's Jack Grealish, however, a deal was not completed, leaving manager Pochettino without any fresh faces in London.
Reflecting on the transfer window, Pochettino highlighted the cost of Tottenham's new stadium, which will open this season.
"We have a very good squad, we have very good players and it is not easy to add players that improve that," Pochettino said.
"Of course we didn't sell players and with 25 players in the squad it's difficult to add.
"Our targets are always in the same level of Real Madrid or Manchester United or Manchester City, but for different circumstances we cannot achieve that.
"If you cannot add players who can improve your squad, the most important thing is to make sure you do not lose your best player.
"And I think that was a great job from the club to keep the best player and keep the manager."
Pochettino added: "What the club is doing is showing it is so brave. Building a new training ground, finishing this summer the [player's] lodge was a massive investment.
"Building a stadium that is nearly £1billion. 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."