When asked about Levy's claims that the fees clubs are paying on new talent is unsustainable, Conte replied: "My question is this: What are Tottenham's expectations?"
But Antonio Conte who has signed four players so far including transfer of Alvaro Morata from Real Madrid said; "If [Spurs] don't win the title, it's not a tragedy". If they don't arrive in the Champions League, its not a tragedy.
"Sometimes, young players think they can play easily in the first team, but that's not true".
'If they go out after the first game that they play in the Europa League and go down against Gent, it is not a tragedy.
Everybody speaks about the dimension of the investment at Manchester City, but there is another team that I feel the dimension of their investment is also phenomenal: Tottenham.
'You must understand this.
The north London club have not made a single signing thus far but have managed to keep all their players with the exception of Kyle Walker, who signed for Manchester City last week.
English top-flight teams have splashed out more than £768 million since the end of last season but Spurs, runners-up to Chelsea in May, have not yet added to their squad.
Chelsea will defend their Premier League title this season and Conte believes Tottenham have proved they have zero ambition to challenge the Blues.
That player could very well be Everton playmaker Ross Barkley.
"If Barcelona does not compete for the title, it's a tragedy", he said. "If their ambitions are to fight for the title or win the Champions League, you must buy expensive players. That's what you get with a homegrown player and that's why people love Harry Kane and sing that he's one of our own".
'They lost Kyle Walker but they have a structure.
The Spurs chief stated publicly yesterday that the club was not anxious about their inactivity in the transfer market and that they would rather promote academy players than spend money for the sake of it.
The players who were presumably put to the sword by the Italian are Watford's Nathaniel Chalobah, Liverpool's Dominic Solanke and AFC Bournemouth's Nathan Ake - three developing professionals who were tipped for big things at Stamford Bridge before their exits. Pochettino is a really good coach.
"I think I am a custodian of this football club". This is the reality'.