Flamini is an extraordinary case, because his contract has run down he's available on a free transfer, so people will offer him higher wages than normal purely because they won't have to pay a transfer fee.
It's a rubbish situation for Arsenal, but they have to stick to their guns, that's how they've become so successful financially.
It won't just be an extraordinary case though. What happens when Fabregas wants to renew his contract and see's the likes of Gerrard are getting £120k a week? Will he sign a new deal if he doesn't get offered what he see's as the going rate?
Imo Arsenal risking losing their players if they stick to this wage structure. Talk of them going the way Leeds did is dramatic; Arsenal have got possibly the most profitable stadium in the league and almost certain of CL football every year. We're in a far wose situation than Arsenal (due to the stadium) but are still able to pay top wages and record a decent profit.