Sunderland still ended up spending close to £160m I think. They spent really well but if they were to get relegated, they'd be in a whole world of trouble for years to come and they wont want to go back to League One or end up doing a Reading. Leicester are due to be deducted an estimated 9pts this month for PSR violations too and their situation could turn extremely dire if they have to sell players in January to stop it happening in the summer. There's just not enough windows or time for teams who are going down to adjust their situation - I can understand why teams going up may be scared to spend because it means they don't have to try and balance the books to fit the stupid PSR rules in no time at all. Maybe getting promoted, planning for relegation and then trying to get promoted again isn't such a bad idea especially if you can pocket a huge sum. Spending it seems to have a double-whammy knock-on effect.