I disagree with the statement that we can't compete with those wages. We fricken well can. We could have a spine of 3-4 superstars on pretty monstrous wages if we weren't paying ridiculous amounts to the likes of Bendtner, Denilson, et al - and the are ridiculous and unearned amounts which is why no one else in the entire world will take them off our hands with the contracts they are on.
Our problem is not our wage bill, it is how the wages within it are distibuted amongst the team.