Alan Partridgepapereyes http://extras.timesonline.co.uk/pdfs/wages.pdf
Bottom 3, 3 teams that went down.
Reading's probably a bit swelled by the sheer number of players on the squad list with no chance of playing, Bennett, Sodje, Halls etc that season.
That second point is the most telling in my mind.
We had/have the money available to compete but we used it in all the wrong ways. We had players on a reasonable Premiership wage (£25k per week) which would probably have been enough to attract the likes of Taylor, O'Neil, Cahill etc but were too afraid to spend it on that calibre of player. It's not going to enable us to compete for players moving to the Villa's and Newcastles of the league, but it doesn't stop us getting players over the likes of Wigan and Fulham.
If we'd have been a bit more aggressive, and maybe used loan signings to fill in the squad gaps that the likes of Sodje took up (if we really needed them filling) we might've been able to use that budget more effectively.