Affording those wages is all mixed up in the successful club, successful city thing, you don't get one without the other nowadays.
There's a big reason why London and Manchester are the dominant forces in football,
Successful cities attract big business, modern business, especially in the financial sector and the thousands of different career paths you have within it, this in turn means better infrastructure, which in turn attracts better amenities, leisure, hospitality, dining, bars, shops, and streets that a better quality of person wants to spend time on.
5.00 after work in Leeds and Manchester and you're struggling to get a seat in one of hundreds of quality places to eat and drink
5.00 in Sheffield, well, Doreen locks up the shoe shop, Iris locks up the bookies, Maureen shuts the charity shop, they all pull the shutters down because if they don't some fucker will be sleeping in there, and Ethel puts her mop and bucket away for another day, everybody goes home leaving the spiceheads and homeless to roam about begging off of some poor fucker that just happens to accidentally be in Sheffield City Centre changing buses.
It's blistering stuff innit?
We could look at players earning £100k + a week, they still wouldn't come, because the place is a toilet.