Ah, the age old excuse. So and so's got more money than us etc etc.
Didnt seem to hamper Liverpool a couple of seasons ago when they almost won the title. But for a meltdown at Palace they would probably have won the league despite such financial deficiencies.
Didnt seem to hamper Atletico Madrid in Spain a couple of years ago either.
Not saying it's the only reason but I'd argue it's a huge contributory factor. How much did Liverpool pay for Suarez including wages as he was instrumental in their oh so near season. It can happen as Atletico proved but far too often the bigger spenders in most leagues will win or go close.