I've recently done just this. The wages, and players, at City are just daft. It hurts my soul having to pay Kolo and Addy over 100k a week but there is no way they would leave, if I tried to sell them, without asking for silly compensation.
I did manage to get rid of Bellamy, Lescott and SWP, though. Again, they asked for compensation, but six months in the reserves soon sorted that. Bellamy was spitting feathers

. I finally shipped him off to Ajax where their squad immediately voiced concerns over his signing. True to form, rather than keep his mouth shut and get on with it, he gobbed off saying that a player of his calibre demands more respect. Nob.
The players I have bought I managed to get on fairly sensible wages; even Chiellini is on much less than Kolo. Despite this, the board still throw money at me; I have over £140m transfer and nearly £600k p/w (

) in wages to spend. And, we made a loss of £60m last season. Bonkers.