Phillips joining Manchester City and Raphinha's imminent move to Barcelona will leave fans worried about their chances of staying in the Premier League.
However, the club has acted, using that cash injection from the sales to make SIX new signings so far this summer - Brenden Aaronson, Luis Sinisterra, Tyler Adams, Marc Roca, Rasmus Kristensen and Darko Gyabi.
talkSPORT's Jamie O'Hara is less than convinced about the club's action this window, labelling their new acquisitions as 'nobodies.'
O'Hara went onto say he feels Leeds could get relegated and Jesse Marsch could get the sack next season, however, Ambrose believes this verdict is 'harsh.'
"You want to improve, you want to progress from last season but you've got a new manager who's kind of unproven in the Premier League," Ambrose said on Drive.
"They've signed these six players who are unproven in the Premier League, but I don't think they're in a worse spot.
"I think Jamie was being a little bit harsh. If you look at the players who have signed - Champions League players, Bundesliga players - they're a good team.
"These are players Marsch managed so he knows what they're about.
"Yes they've lost two of their best players, if not the best two. Kalvin Phillips only played 20 Premier League games last season which was a huge loss but they finished 17th.
"The issue they had was strength in depth… when Patrick Bamford and Phillips were injured they didn't have many quality players to come in.
"They've gained around £100million for the two and they've spent around £80-90million on six players so they can sign one, two, three more players to get that strength in depth.
"When I say Leeds need to aim for 17th I'm not being disrespectful. Other teams like Brentford, their aim should be to finish 17th… you have to build foundations, be in the Premier League four/five years before you look to progress.
"I don't think they're worse off. They've lost two fantastic players but we didn't know who Riyad Mahrez was when he arrived in the Premier League, we didn't know N'Golo Kante, we didn't know Raphinha was…
"These players could turn out to be superstars, we don't know yet."