We don't know for sure what our players actually earn, so any discussion about wages and whether we can afford it is guesswork. But, let's assume we upped Alderweireld's weekly wage from £50k to £150K. That's an additional £4.8m per annum we'd have to find. Given that we're not like West Ham or Crystal Palace (i.e only one or two 'key' players), what effect is such an increase likely to have on other squad members' wage demands?
Would, for example, the following players push for similar % increases or even wage parity?
Lloris, Rose, Vertonghen, Davies, Dier, Dembele, Dele, Eriksen, Son & Kane (not to mention the impact such an increase might have on the wages of the new 'star' players we all want us to sign in the summer).
If so, that's up to £48m added to our annual wage bill, not including Alderweireld. You might reasonably argue they wouldn't all merit and/or achieve such an increase, but you can nonetheless see that a massive increase in one player's wages could have serious financial repercussions given our squad is full of 'key' players.
Right now, we pay around 50% of our annual revenue (the most recently-published annual report puts our revenue at around £210m, I believe) in wages. This is in line with our main rivals, with the exception of Liverpool (who pay around 60%). We also have a stadium to pay for.
To be clear, I'm not arguing against wage increases, but I do believe they should be in line with what we can afford rather than being based on what other, significantly wealthier clubs can afford. We'll have a much better idea what that might be within the next few weeks when our 16/17 report is published.