Building a team/squad

Looking at the way the Premier league is right now and certain managers can basically go out and buy who they want, where as managers of lesser teams "financially" have to scrimp and scrape their way through don't they.
The thing is, what actually makes a club a top club in respect of this.

I'll explain: Let's take Newcastle United as a yardstick. We are now a club that works within our means I.E, we don't/ won't squander money in terms of going all out to buy whoever will come to us and will only buy a player who is worth the money, what we as a club believe they are worth.
People will argue that we aren't a big club and they will cite poor spending as the main reason behind it. The thing is, if all clubs were on a level playing field, so to speak for e.g working on the budget that they accumulate from within "club money" and not "owners money", then we would see a different kettle of fish when it came to locking horns on the pitch and it would also sort out the good managers from the not so good.

Take Man city as an example of, is a manager a good manager or is his job basically self managing type of thing. Meaning the quality bought can hold their own against the best of the rest based on the quality that's bought at frenzied prices.

So in essence, if you look at the Man City's of the football world and the managers of those teams, that can basically buy any player on the planet with a blank cheque book, does that really make them a top manager, regardless of them finishing with a trophy or top of the league?

What I'm trying to say is, for me, a manager is only worth his salt by identifying and nurturing any talent that is within the clubs budget.

Alex Ferguson and Arsene Wenger for me, stand out as the best 2 Premier managers ever for actually identifying and bringing through talent and also getting the best out of raw talent, the same as I believe Pardew can do for us, but time will tell.

If any of what I've said makes any sense to you, what is your take on it?

agree with that like, most mangers don't manage and the teams they take charge of are usually the super rich ones who can bring anyone in they like regardless of anything, those managers that do there homework on potential players and bring them to there club without having to shell out megabucks are in fact the best managers around