TRANSFER deadline day may have been a damp squib but should Neil Lennon be pleased with the business he did over the whole window, considering his financial circumstances?

Wanderers fans watched on with a sense of sullen resignation as millions of pounds were splashed around on Tuesday to keep the Sky Sports ticker working overtime.

While there was brief hope of an incoming signing, it was only a fleeting one, and that Neil Lennon ended the day by selling a young talent in Andy Kellett only added to the misery.

The Whites boss had targeted a striker to help ease his side’s goal-scoring problems but that thought will have to remain on hold, at least until the loan window reopens on September 8.

Sources at Wanderers suggest there is room in the budget for the manager to bring in one or two more players to supplement his squad in the next few weeks, although fans should certainly not expect a sudden spending spree.

Looking at the window as a whole, Wanderers recruited nine senior players without spending a single penny on transfer fees; a sign of the times at the Macron Stadium, you might say.

Loans for both Prince Desire-Gouano and Wellington Silva are almost certain to have come at a cost but after the moderate sales of Kellett and Alex Baptiste, plus the more extravagant deal that saw Tim Ream leave for Fulham, the Whites pocketed around £1.8million to go into the pot.

A dozen senior players left the building in total, taking with them more than £7million a year in wages, and that’s a conservative estimate.

Unfortunately that won’t add up to more spending for Lennon, who now knows full well that without outside investment in the club, the situation might well get worse before it gets better.

Yes, the timing of a deadline-day signing would have eased the gloom a little during an international break where we all have more time to ponder.

But Lennon would argue that with a little more luck and composure in front of goal, things would have been a lot rosier anyway, and the pressure to add to the ranks would not have been so severe.

Back in May the manager had pledged to create a more robust squad, and one capable of resisting some of the injury problems that had forced him to play more than 40 different players – a post-war record for the Whites.

Defensively they have improved considerably, although the injury situation continued to bite.

Ben Amos has added an air of calm to his back four, with few fans still mourning the loss of Adam Bogdan to Liverpool or Andy Lonergan to Fulham.

And while Tim Ream’s pace and composure will be missed, the American’s absence has been compensated by a real diamond in the rough in Prince – who looks destined to become a cult favourite.

Lawrie Wilson has also settled quickly, overcoming some initial unsteadiness to put in some consistent performances in the last few games.

We have yet to see anything of Derik Osede, Francesco Pisano or Jose Manuel Casano, but Lennon now has cover in every defensive position – something he has not had since walking through the doors last October.

His midfield remains over-stocked and somewhat narrow, although the recent introduction of Wellington Silva has brought some much-needed pace into the team.

It is only really in the attacking areas that Lennon’s recruitment policy can be questioned.

Gary Madine’s all-round performances had been fine up until a low key display at Blackburn, while Stephen Dobbie has supplied the solitary goal this season, and been given little opportunity to do much else.

Of the 63 goals Wanderers scored last season, 36 have disappeared within the players who left the club.

And with blanks in five out of six games so far in league and cup, the evidence quite clearly suggests the search to replace them goes on.

Deadline day passed without action but the rebuilding job for Lennon hardly has time to slow to a halt before he looks at loans that may be able to ease a frustrating start to the season.

The club remain second bottom of the Championship without a win in their first five games but the concern is not about league position, or performances, and more about goals.

If by missing out on a deadline day signing Lennon is able to take his time, and perhaps pull another rabbit out of the well-worn hat, then maybe things might start looking up?