I actually read an article comparing Wenger's belief in an "egalitarian" wage structure to United's. At Utd, Rooney might earn over ten times the salary of a fringe player (or 100x that of a Zeki Fryers), but at Arse the squad players will get something like 60k compared to 100k for a key player. That's why their total wage bill is not far off United's at all, despite having a lower top cap. It's a purposeful thing based on Wenger's personal philosophies....perhaps that's why he prefers working with younger players rather than older stars, who might want to be rewarded on a substantially different planet to their younger days and lesser players. (Note also that huge wages for kids also helps Wenger keep poaching the most promising youngsters, who - surprise! - tend to be more likely to develop into the best players, which then helps keep up Wenger's reputation for developing kids. That's not to say he isn't a great coach.)
I think we're around the middle - our basic wages are not outrageous especially for youngsters but seniority and bonuses mean you can still end up with a high overall, and a few of our biggest stars like Bale are near 100k/week by most reports.
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Btw, I've been watching Schalke's CL games to check out Holtby, and I'm actually struck by how Schalke seem to pass and move faster than Arsenal. Within our league Arse are perhaps the team that emulates or at least tries to emulate Barca's one-touch style the most, but they actually seem to take extra touches and dawdle on the ball in comparison to Schalke, who flow through the opposition half.
That's not to say Schalke get everything right (they don't have quite the Barca level of technical precision to pull off one-touch in the final third without allowing more turnover opportunities), but I think it says something for the Bundesliga's technical qualities, esp considering Schalke's iffy form and position this season. I often think that technically cultured players tend to stand out more in the PL than in La Liga or the Bundesliga; the likes of Mata, Silva, Cazorla - not to mention Michu, probably player of the season so far - find it difficult to break into Spain's starting XI or La Liga's Big Two, but look amazing over here.
Every club in the PL seems to be picking through Ligue 1 right now since it's weakening outside PSG (and no doubt some footballers are worried about impending tax hikes), but I hope we look more towards Spain and Germany. Benat for example might be a good alternative to Moutinho, albeit without the undying love for AVB.