He's here because Arsenal and Spurs fancied other coaches and all other big clubs he'd either done and been let go by (Bayern, Juve, Madrid, PSG, Chelsea and Napoli) or had already got managers in place (ala Dortmund, Atl Madrid, Liverpool, City, Barcelona and United).
There weren't many attractive opportunities open to him. We also made him one of the top 3 best paid coaches in Europe. It's clear why he's here. I think if you're expecting some sort of Abramovich / Sheikh style spending this summer, you're in for a big disappointment.