I MUST admit to a bit of surprise when I heard that Aston Villa had finally splashed out £9.5 million on a Columbian hot shot.

Firstly, I wondered if Paul Merson was up to his old tricks again and secondly I pondered on the possibility that Doug Ellis had gone mad and bought Brett Angell instead.

Worryingly, in these days of £10 million fees for anyone who can kick a ball straight, it doesn't seem that far fetched to imagine a journeyman goalscorer attracting a mind blowing transfer tag.

But, while the influx of over-rated foreign players is a relatively new phenomenon, the prospect of clubs splashing out more than they can afford in the pursuit of success is just a case of history repeating itself.

Do you remember the late 70s and early 80s? I do, barely, but more strikingly I can remember looking through a copy of Rothmans in about 1990 and noticing just how many clubs had set their transfer record between 1979 and 81.

The likes of Steve Daley and Justin Fashanu became multi-million pound players and clubs like Wolves and Man City spent a fortune for little reward.

Very shortly afterwards those clubs found themselves counting the cost as the bottom fell out of the transfer market.

The long term winners, of course, were those clubs who spent prudently and cashed in on players when the price tag got ridiculous.

They were in a healthy position to pick up the pieces as the decade continued and sanity returned.

It's a lesson that today's big spenders would do well to heed. While the likes of Manchester United will continue to stay in the black, you do wonder if the Middlesborough's of this world will be in such a healthy state five years down the line.

And what is true in the Premiership is undoubtedly true lower down the scale as well.

And it makes the management of clubs like Lancaster City and Morecambe all the more prudent.

After all, why pay out big fees when the whole transfer system could come down like a pack of cards within the next few weeks - with or without the 'help' of the European Union.