What, I sincerely doubt anyone except possibly Torres is on over 200k a week at Chelsea, Anelka won't be, Sturridge and Kalou won't be even remotely close to 200k, I doubt either are making more than 100K a week.
City at the moment will definately have higher wage bill, not least because the last data for wages iirc had Chelsea in a title winning year, which probably factored in fairly big bonuses.
This is all neither here nor there, City could spend 50million more a year than Chelsea with ridiculous wages, and then get Aguero, Kompany and Hart all out for the season with ACL injurys, then what will that do? What about Chelsea last year, they spend way more than Utd, yet a single injury to Lampard turned their amazing start into their worst spell in the past 6-7 years, and after he came back it didn't take long for their form to return. They'd likely have won the title had Lampard not got his injury.
Spending, to a point, gets you the best players, you've still got, mistakes, injuries and bad luck to take into account, predictable, nothing. Arsenal ran Utd hard while never once surpassing their wage spending and often not coming that close, and won titles from them. Wages and spending gets you in the fight, it doesn't win you titles, otherwise Chelsea would have won the title every year since 2004, Arsenal would never have won the title, and City and Chelsea would have made up the top two teams for the past 3 seasons.
Likewise picking and choosing with transfer spending is stupid. Like Chelsea, City's transfer spending will slow dramatically now, with 1-2 players a year but also 1-2 players leaving. What striker would they buy next year, another 30mil + striker, or maybe a couple future stars, 14-17yr old kids for next to nothing.
Utd had a epic start to the season and a few injuries later, have dropped a little behind but more importantly looked far less good.
Spending is one part of the picture, but its misleading, City COULD have put together the same team by getting every single player they have anywhere from 5-10 years ago as youth players for a few million total, they'd still have the same team now, and probably lower wages.
Is Balotelli better than RVP, no, but probably makes 50% more, wages aren't an indicator, neither are transfer fee's, again compare those two players.
If you had two players like, Torres and Aguero, Torres was considered the better player at the time, and went for 50mil, but when one of the two biggest teams who both wanted a top striker and could afford a top striker, wasn't in the running for signing Aguero, they couldn't get 50mil for him.
Simple fact is City, Utd, Chelsea all have first 11's capable of winning the title, wages/transfer fee's just got the squad in position, the squad, regardless of if they get a bump to 1mil a week each, or the club can't pay them next week, will be the same either way and have to win the title themselves.