While the top of the table is limited int he number of competing teams, there is fantastic competition for euorpean places and relegation. Your idea would deprive the fans of the 3 great matches from this past weekend: chelsie-evrton, arsenal-portsmouth, man u-west ham. I dont see Porto-Schalke having quite the same appeal.

As for the money, I think it elevates the level of play for all teams as one ascends the other compete. If an owner cant compete, well time to sell, and we all know the money gives an advantage but not a guarantee.

An alternative to a player wage scale to improve competitiveness would be a league rule limiting spending to a % of revenues. Teams would be free to exceed these limits but throw money into the pot for every pound or euro over the limit they went. That money would then be divided amongst the lower revenue producing teams. I really am not enamored with this either, but to me its a much better alternative to wage scales wich to me are anti competitive, unless of coarse its for sports writers.