We did buy excellent players this year. But still second tier. Unfortunately, we did not buy anyone at the Messi-Neymar-Suarez-Bale-Ronaldo caliber. At least, not yet. So, we definitely wont be the best team in the world... at least not in the way Barca has been.
Thanks god, we are over the "homegrown talent" mantra and the "Scottish manager" nightmare. We are buying the best players we can find. Keep spending ... and the titles will come. Buy the best players available, and we will build a fine team. The red galacticos!