Country: England
Player:Saliba
The reason people equate transfer spend with success is simple, the more you pay for players, the better their quality. Chelsea, City and United have spent the most on players and between them they’ve won the league every year but two since 2004.On a superficial level it might seem like we weren’t spending money but we had one of the highest wage bills in the league. In 2008 for example we had the 3rd highest wage bill in the league.
https://www.theguardian.com/football/table/2009/jun/03/premier-league-turnover-wages-debt
A simple take would say we did well while being outspent by the rest of the league while the truth is our total spend has always been among the highest. If you think clubs like Sp**s were outspending us you need to look at the wage + transfer spend ours was much higher.
Here’s the total spend of clubs between 2004 and 2012, our austerity years. You can see we’re 6th for spend, and if you look at the net spend you’ve got to go down to Portsmouth before you find another team who bought an sold so well in that period that they actually made a profit. Considering we had massive stadium debts, to make a profit on players and make top 4 every year was over performance personified. Sp**s were outspending us by a mile.
The relationship between wages and success is less clear, Arsenal have always had a high wage bill, usually 4th in the league behind City, United and Chelsea, this is not because we were attracting impressive squads but because we were paying players like Carl Jenkinson £50,000 a week.
Which ever way you want to look at it, transfer spend or wages Arsenal was over performing by coming continually inside the top 4 for 20 years straight.