MISGUIDED NARRATIVES ABOUT CHELSEA'S SPENDINGS
The narratives about how much Chelsea has spent in this window compared to what arteta has spent in the last 3 years is misguided.
They are only considering the outflow while ignoring the inflows as at now and the potential inflows! Chelsea FC had already made close to £200m in sales of players, while more are still on the sales radar! Again, it's not about the manager or the coach per se. It's holistic, it's about the club as a whole. What was the inflows of Arsenal FC at the time? It was not about Arteta alone.

In the financial world, we look at the net outcome of every event, it can be, called financial transactions. In this case, we match the inflows against the outflows. Then you draw your conclusions. Chelsea FC management and/or owners are doing good business in terms of transfer of players. They have a lot to rake in in terms of sales of player. Their potential inflows are enormous.
What made Arsene Wenger famous at the time was his transfer business, basically. He won EPL with unbeaten run. More so, he won FA cups, etc. But Arsene was more fancied, even till tomorrow because of his prudent nature when it comes to transfer business
Aside winning trophies, how smart or prudent you are able to participate in the transfer business or market also counts in measuring football club success.
While talking about Chelsea Spendings, always point at the net spending. Chelsea is a selling club, they sell players with profit and bring in new players. Currently, the net spending is not more than 250m, by the time the transfer window is over, the net spending might not even be up to 100mil. Arsenal is not a selling Club and even when they sell, they sell far lower than the price they bought the player. Chelsea paid £19m for Andrey Santos, he was sold him for £50m, they bought Cucurella for £60m, sold him for £52m after close to 5years at the club, and ended up buying his replacement for £19m. Chelobah is on the verge of leaving for £25m, and that counts for Pure profit. If Gernacho finally joins Aston Villa permanently, with the loan fee + Transfer fee put together, Chelsea would equally make some profit from the deal. While comparing the 2 sides, the fact that the 2 clubs doesn't operate with the same model must be considered.
Conclusively, Arteta might have spent considerably less, in 3yrs than what Alonso has spent in one month, but the cash inflows at both clubs (Transfer_wise), are not on the not on the same wavelength.