wow lots has been said
my opinion
Transfers:
contracts would have to be used, probably very similarly to the way they work in CM4, BUT would you be able to re-sign players if you want to or would you have to bid, obviously in real life the player decides what he wants to do, but that cant be done here, and in agreement with some people i dont want to have to bid on my own players.
Wages:
this is a much simpler system i think and would be much easier to run after the origional introduction.
Each team gets 3 sponsors, they get money from each of those sponsors. this pays player wages each team as they progress up gets more money from their sponsors and less if they get relegated, which forces teams to sell players to stay under budget as they go down. you also get money for winning competitions, this adds to your budget BUT only for 1 year, so you might get yourself a better player than have to sell him if you dont win anything.
this means that there will constantly be players on the move at the end of the season BUT people also get a say in what players leave the club.
now how to determine player wages: well obviously it cant be done by just 1 person, i would suggest a group of 2 or 3 people value each player, once budgets have been set and they are averaged, prefferably so that some of the players from better teams will be on the move. Brendon and Rich would have to look at the wages to double check that everything will fit in with how much money each team will be getting etc etc
MAJOR POINT: i think that every WCC manager should vote on this not just the board as its such a curtial part of the game