Tottenham Hotspur have exited the Champions League at the group stage this season.
Tottenham crashed out of Europe’s top competition, after a highly disappointing group stage.
Spurs have won just once in the Champions League this season, and they can no longer qualify for the knockout stages.
Tottenham have to avoid defeat against CSKA Moscow in their last Champions League match to make it into the Europa League, and Mauricio Pochettino has already stated that he feels his side will need more quality to compete at the top level of European football.
However, Savage feels that Spurs will struggle to attract big players to White Hart Lane, as they cannot offer them Champions League football.
He said: "If you want to add more quality to your squad, getting dumped out of the Champions League is the last thing you should be doing.
“How on earth are Tottenham going to attract the best players in Europe to White Hart Lane if they are not involved in the biggest competitions?”
Spurs spent a sizeable amount of money last summer, but the likes of Vincent Janssen and Moussa Sissoko have struggled to make an impact at White Hart Lane so far.
Tottenham could look to re-invest in the January transfer window, as they look to revive their season.
Spurs have won just once in their last 10 matches across all competitions, and they are now six points behind league leaders Chelsea in the Premier League title race.