I'm guessing it's due to the Sky TV deal(s)
To be honest the fact we have to stop relegation every season, coupled with that we're in an unattractive part of the country means we go one of two ways when signing players.
a) We sign young, hungry players who see us as a stepping stone and replace them with proper planning in place
OR
b) we rely on loans and those on their last legs or not wanted by anyone else. Brown, O'Shea etc.
It's the way it is now. No one will ever get close to the elite
You should atleast go for option 1.
I'm not trying to be funny but we managed to sign a few hungry players soon after we came up, Stoke manage to do decent. Stoke is tauter like you, not exactly a club anyone without any affiliation towards the club would jump at he chance to go too and not in a desirable area. However Stoke is near Burmingham which may sway players and you are close to Newcastle which could sway players.
As much as Sunderland are our rivals you should be doing better. There are smaller clubs in fairly undesirable areas coming in to the Premier League which have out done you.
You can't keep blaming the blame game, yes some players won't see past London or mega unrealistic wages, but you should be getting better than what you get. You only have your board and your DOF who has links to some of the dodgiest agents in the game to blame.
9-1, 5 in a row, 1992, FTM. marra