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Back in the 1970s when Liverpool ruled the football roost the club had a policy of trying to add two players a season to their squad. One would normally be a top established star, the other a gamble from the lower divisions.

The idea was that the big name gave an injection of quality, and the guy from more humble surroundings brought enthusiasm and desire as he fought to take his big chance. So, for instance, Bob Paisley's first two signings were Terry McDermott from Newcastle, and a kid called Phil Neal from Northampton.

McDermott cost £175,000 and took two years to establish himself. Neal, for whom Paisley paid a bargain £60,000, went on to collect more winners' medals - 23 of them if you include five Charity Shields - than any other Liverpool player even in that glittering era. Which just goes to show that the best buys in the transfer market don't always come from the biggest spends.

The debate between cost and value is even more valid 35 years later. Wayne Rooney's ham fisted statement accused Manchester United of lacking ambition because they weren't paying out for the world game's established glittering names. The form of Mexican Javier Hernandez, whose £6million fee would barely pay seven months of Rooney's new contract, suggests they don't necessarily need to. 'Chicharito' was again a constant threat during Manchester United's 2-0 win over Tottenham - even if it was Nani's controversial goal that got the headlines.

Rooney's confusion between bling and proper diamonds came because he was looking down the road at the £200million plus spent by Manchester City since their new Arab owners moved in. I don't suppose he would have "Sky Plussed" the full version of City's 2-1 defeat at Wolves, but if so he'd have certainly seen that big money doesn't equal big success. The debut of £24million 'Super Mario' Balotelli was a preening, hand throwing, hissy fit of bad body language. Meanwhile Wolves' big stars were Matt Jarvis, a £600,000 recruit from Gillingham, and David Edwards who was a tad more expensive at £675,000 from Luton. Wolves remain in the bottom three but look worth laying for relegation at 2.14. City are not worth backing for the top three at 2.6.

Of course Arsene Wenger has long been harangued by Arsenal fans who have the same lack of understanding. "Why doesn't he buy an established star?" is their constant moan. Alex Song, who cost barely one million from Bastia four years ago, provided an answer by getting the late winning goal that scored a 1-0 win over West Ham. The Gunners go into second place, and are 2.4 to be there or better at the end of the campaign.

Chelsea remain five points clear, and now 1.65 title favourites, and there aren't too many cheap players in their team. But it was still one of them, Daniel Sturridge, who made enough impact after coming on as a sub to help inspire the late Branislav Ivanovic goal that secured a 2-1 win at Blackburn. The 21-year-old was one of those home grown talents allowed to get away from Manchester City for a mere £3.5million.

Newcastle paid a fraction more than that to sign Kevin Nolan, but there's value several times over there. Never mind the hat-trick that brought a 5-1 derby victory over hapless Sunderland and encouraged optimistic Geordies to back them down to 6.4 to finish in the top six. He's had a huge influence behind the scenes too, not least as temporary landlord to wayward young striker Andy Carroll, who seems to be responding to some guidance.

In yesterday's other local scuffle, incidentally, it was Academy product Ciaran Clark who was the best player on show out of Aston Villa and Birmingham's 0-0 draw.

Of course Mark Hughes was the man who squandered a good deal of all that money at Manchester City, but since taking charge of Fulham he has gone back to the same sort of cautious talent spotting that built his reputation at Blackburn. Carlos Salcido and Moussa Dembele cost a combined £6.6million, and both starred in the 2-0 home win over Wigan. It put Hughes's team in the top half of the table and they are 3.0 to stay there.

Left back Salcido at £1.6million certainly looks better value than Liverpool paying nearly three times as much for Paul Konchesky. The Reds were unconvincing at Bolton despite Maxi Rodriguez grabbing a late winner - but then the club are still picking up the pieces from Rafa Benitez - who paid out £229million on a total of 76 signings during five years in charge, with not a lot of top quality players to show for it. Perhaps Roy Hodgson needs to take a scouting trip to Northampton

By Ralph Ellis

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