that's not the worst thing that was done. That was when Poch was at his peak as manager. For 3 windows Levy stopped all transfers. We went from having a squad stronger than Liverpool's to collapsing. Every player that left was replaced with someone inferior. We never recovered from the departures of Eriksen and Dembele. That midfield dominated. It truly was a sliding doors moment. If Levy had been aggressive at that time (3 year span where if you looked at cumulative points we had more than any other club including City!), we could have won titles. It's almost comical to point it out now, but that's Levy.
Also when Bale was at his pomp with Redknapp as manager, we needed a few players in the January window. What did Levy do? Get some trash players in... we were close around Xmas to challenging for the title. It's almost as if Levy was afraid of us winning something. Don't ask me why? I don't have a clue!