They might have spent 80m but they sold around 50m in the same window.
Also the previous season, they sold Maddison, Barnes and Castagna for more than 100m and only reinvested around 40m so although they made a profit on their transfers it has seen them likely to get relegated again.
Bearing in mind they have to potentially navigate not just PL spending rules but EFL ones too.
Relegation from the PL is a disaster for a club. That’s why they are so quick to sack managers etc. But just spending money isn’t always the answer. They were almost certain candidates for relegation no matter what they did and they’ll be right there in the fight to come back up when they do.
Leicester are a well supported club with very rich owners who should have got a manager who was more experienced and adequately replaced the top quality players they sold.
They were only in the Championship for a season and as I said they are a well supported club with very rich owners who have gradually run the team down, selling all their best players almost every season and inevitably got them relegated.
This also applies to Southampton who are a worse run club with no ambition despite being well supported with rich owners.
Their last two big signings were a couple of spurs rejects but sold Maddison, Barnes and Castagna so considering their owners are some of the richest in Europe maybe show a bit more ambition.