The situation wasn't different last summer and the club went for Joao Felix and Jadon Sancho who were both on enormous wages. I think there's a way the club can go for 2-3 players at least in their mid-twenties. Pedro Neto last summer is an example. It doesn't have to be 19-21 year olds across the board again.
There's plenty of mid-level experience players looking for a jump up from their level - Cunha, Eze, Gordon, Mitoma. Even Watkins was for sale for around 50-60 million.
From all the news filtering through, it seems we are not exploring this market at all so far.