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Published 19:45 27 Dec 2017 GMT
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"Clubs are always spending fortunes on the wrong transfers. Newcastle United are perhaps the most humorous example, but in fact, the amount that almost any club spends on transfer fees bears little relation to where it finishes in the league. We studied the spending of 40 English clubs between 1978 and 1997, and found that their outlay on transfers explained only 16 per cent of their total variation in league position. By contrast, their spending on salaries explained 92 per cent of that variation. In the 1998-2007 period, spending on salaries by clubs in the Premier League and Championship still explained 89 per cent of the variation in league position. It seems that high wages help a club much more than do spectacular transfers."The average weekly wage at United this season is £100,792. The average weekly wage at City is £100,691. It could be argued that coaching, rather than transfer spending, is why City so far ahead of United in the Premier League table, because in terms of wage bills, there's nothing between the two clubs.
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