It sounds like a plan, but it relies on you doing great transfer business to replace star players with adequate substitutes.
In the last few years, the club has done some exceptional business in bringing in players like All , Eriksen, Dembele, Vertongen , Davies and Alderweireld for little money (relatively) whilst bigger purchases like Son and Sanchez have not broken the bank and have been successful. Added to that your best player cost nothing! It's hard to believe some of these players escaped the attentions of clubs with deeper pockets.
It will be difficult to maintain that level of success in the transfer market - especially when the selling clubs know you have money to spend.
I won't argue that but there's something that brought in Lucas Moura for less than he should have cost and allowed us to sign Davinson Sanchez when Barca failed. We're a really well run club with great facilities based in London that really gives youth a chance and plays great football. Additionally, we have Mauricio Pochettino who seems to be able to do a sort of Mentalist thing to attract some players and then really improves them.
We're out there competing for every young available talent and we will get some of them, increasingly it will be the better ones as the club progresses. As West Ham and Leicester and Everton and even your team have discovered, having loads of money's not the complete answer. You have to be a match to the players abilities and ambitions and be able to spot top talent. Currently, we're a good fit for players who are a step below the top CL teams {Alderweireld, Vertonghen, Moura, etc.] or are young and obviously highly gifted [Sanchez, Eriksen].
If we can limit the outgoings to 1 per season, then we should be able to trade effectively and keep to a high level, much in the way that Atletico Madrid have done. They have far less money than Real or Barca but they are always there having a go. If we can keep on the right road, we can be that team too. Not easy but there are clubs like Sevilla, Monaco and the like who also do exactly that. It's what Arsenal used to be really good at....


