So if Huddersfield, Brighton, Burnley, Watford go down, will the fans be calling for the chairman to resign or the manager? Or perhaps neither.
When teams spend 80m and get relegated, normally you cut costs and the manager has to deal with a small budget and the sale of key players. We sold about 40m pounds worth of players, and Grayson got 1.5m of it back for transfers. Newcastle sold 3 players for about 75m between them, and Rafa got a great big fat chunk of that back to spend, essentially purchasing the title.
Huddersfield and Brighton - what was their budget last season, and this season? A hell of a lot smaller than yours, as was (and is) Burnley's, and they're 6th. Burnley's summer signings amount to Charlie Taylor, Jack Cork and Chris Wood as the only signings they made that cost more than about 2m - and Wood on his own cost almost as much as the other 2 put together, he was their 1 really expensive buy.
For comparison, if you want to complain about not previously signing Lacazette or Aubameyang at younger ages because Ashley tapdanced over spending, you signed Jacob Murphy for 12m (?) this summer (who has been in and out of your team), whilst Richarlison went to Watford for 10m...the value is out there, as long you have a manager who sees past the end of his nose.