He has already stated his dislike for spending silly money.
Fook him so, we've had enough of that shiit already. If you want to be competing at the top you have to have top players, he has no magic wand to turn sows ears into silk purses any more than Rodgers has. Therefore he's got to compete in the market for quality players and that means he has to pay the market price and the market wages. If he's not prepared to do that let him go seek Wengers job, we all know what that approach brought them, even with one of the best managers ever to grace the PL.