Tottenham have become the first team in Premier League history not to make a summer signing since the transfer window's inception in 2003.
The club were linked with a number of names, notably Aston Villa midfielder Jack Grealish, for whom they had a £25 million ($43m) bid rejected on Wednesday.
Their failure to bring anyone in is the first time a Premier League club has not made a signing in the 15 years of the summer transfer window.
It is at odds with boss Mauricio Pochettino's perceived wish, where he challenged the club to be "brave and take risks" at the end of last season.
The tonic to that lack of transfer activity is that Spurs have been able to keep all of their top stars, with a number of them tied down to new deals.
The window remains open to European clubs until the end of August, so there is still the possibility of players going out even after the English deadline passes.
Toby Alderweireld, Danny Rose and Moussa Dembele could still leave in the next few weeks, but Pochettino has been able to keep hold of Harry Kane, Christian Eriksen and Kieran Trippier.
Alderweireld was heavily linked with a move to Manchester United but firm interest never materialised.
"We have a very good squad, with very good players and it is very difficult to add players to that," Pochettino added.
"We didn't sell players and with 25 players in the squad it is difficult to add players.
"It's not about adding because it's fashionable to sign players. It's about if you really need them or not and then if you can get your target or not.
"It's true our targets are always the same level as Manchester United, Manchester City or Real Madrid but for different circumstances we can't achieve that.
"I am not worried, I am not sad, I am so happy. To keep our best players was our objective and goal and we have achieved that - at the moment, we will see what happens in the next 20 days in Europe."
Pochettino does accept how the lack of activity might be viewed externally, but is happy with the club's vision.
"Of course it's difficult to understand ... but sometimes in football you need to behave differently," he said.
"If we are happy with our squad and cannot improve our squad, sometimes it's better to keep our squad together.
"There's no reason to not trust in our squad and no reason not to believe in our club or believe in what we can do."