Look at our money spent to Man Cities. We spent in the last 5 years £63 million and they spent £637 million.
Thats 10 times more than us for all you maths boffins. Is their squad 10 times better than ours? No. Did they get 10 times the points we did in the last 5 years? No.
They're better obviously but the difference is nowhere near as big as the figures suggest.
Diminishing returns there, mate. Swansea can pick up Michu and he can single-handedly lift them out of relegation zone and into 9th*. (Not saying he did, but he can). However, Michu is maybe a rotation player for City, if that, so for City to make their squad better they can't do it with £2M gems like Michu, but instead they need £24M gems like Van Persie (which they missed).
On the contrary, even though Van Persie is plenty better than Michu, how high would Swansea have finished if they had bought RVP instead? He doesn't automatically make them a top-six team by himself.**
**Not defending City's wage bills, but arguing that the difference between 6th and 12th is much smaller than the difference between 1st and 3rd, ergo the wage bills.