At a time when Kevin Keegan's outlay on Alan Shearer could buy up the whole of the third division and a chunk of the second, when 70 per cent of the English game's wealth is concentrated in the Premiership, and the English League are holding back on the traditional 10 per cent share out to the PFA, money talks like never before.
Then again, Bacon also said "riches are for spending" and, like kiddies in a sweet shop, the Premiership has again been awash with big spenders this summer. The influx of expensive foreign talent has even surpassed that of last summer, facilitated by Sky's coffers, and the post Bosman era of freedom of contract and non restrictions on foreigners.
Quite where this is leading, no one seems to know, but the concerns of the PFA that this trend of (relatively speaking) cheaper foreign labour will stunt the growth of young English talent appear legitimate.
If so, then the same may apply to young Irish talent, for whom the English game remains a natural lifeline. Arguably, it is already happening. Were it not for Niall Quinn's move to Sunderland, Mick McCarthy would struggle to find 11 starters in the Premiership.
The Republic of Ireland manager is understandably worried. "With this new wave of continental players coming into the English game it shoves (Irish) people down the rankings. There's no question about that. If I'm ranked second or third choice for a position at my club and my manager buys what he believes to be the best from the continent, then it stands to reason that I will go down the pecking order.
"It concerns me whether the kids will be developed as they used to be, but more immediately I want to see them all playing competitive football, even if that's down a division. Playing reserve football is no use to me and it's no use to them."
In another era, an international cap paved the way for a move up the divisions. Not now. Not one of the 10 players capped by McCarthy have been bought by a Premiership club.
"That's because the clubs are asking for £2 million. Managers in the Premiership can spend 3 or £4 million for the finished article. I can understand the clubs' attitude," says McCarthy.
The balance may eventually tip back the other way. Posterity tends to highlight the successful imports, not the Morenos, Helders et al, and for every Ardiles, Muhren, Klinnsman and co, there have been many more `failures'.
Interesting times nonetheless, especially with regard to the international sets at Chelsea, West Ham, Middlesbrough and the like. The English league remains the toughest if not the best, and will test the mental and physical strength of the newcomers.
The jury remains out on a number of issues, not least on premature talk of a golden era, and the old chestnut about the Premiership being the best league in the world. The memory of English club performances in Europe last season, when only Nottingham Forest's massed defence and charmed goal survived beyond the second round, puts suck talk in perspective.
Performances in Europe this year are also likely to have a major bearing on the destination of the title. Even though the Premiership has been reduced to 38 games and the European entrants have been granted a bye in the first round of the League Cup, involvement in Europe will take its toll on league performances as it did with Forest last season.
Manchester United's defence of the title may well hinge on whether they progress beyond the Champions' League group stages (even failing to do so exacted its toll two seasons ago). Tellingly, five of last season's quarter finalists failed to retain their domestic crowns. Even Ajax wavered at home and abroad.
Alex Ferguson has offset this potential distraction by scouring the continental marketplace. Besides, whether anyone has the capacity to capitalise on United's heavier load is a moot point. Despite the hype regarding the purchase of the world's most expensive player, there's something brittle about Newcastle. If they don't get another good start, it's conceivable that they wont figure that strongly.
There's also a major question mark surrounding the character of Liverpool. Things have changed since Shankly's, Paisley's and Dalglish's Liverpools lorded over the flashy United's of Tommy Docherty and Ron Atkinson. Liverpool 1996 need to grow up, but they still seem the best equipped to challenge.
Good management remains as important as ever, which is why Aston Villa, Tottenham, perhaps Forest and, hopefully, an enlightened Chelsea, may all progress. Realistically, though, the affluent 90s have ensured an elite within an elite which forever more will prevent another Norwich emerging from the also rans with home grown talent.
Money talks in the lower divisions, too. As a result, Wolves, Birmingham and their ilk look the likeliest to join the elite. Nonetheless Peter Reid's Sunderland, Jim Smith's Derby, and Martin O'Neill's Leicester give hope to the comparatively impoverished. Good managers can surmount the odds at this level.
Trevor Francis, at Birmingham, has clearly copied the Leeds and Blackburn blueprint in capturing proven Premiership pros like Steve Bruce, Mike Newell, Paul Furlong and Gary Ablett.
Crystal Palace, again obvious candidates despite the significant departure of Nigel Martyn, nearly emulated Leicester in rebounding back to the land of milk and money, but many other relegated sides have continued to decline. Alan Ball's and Ray Wilkins's track records don't necessarily augur well for Manchester City and QPR. Under a rehabilitated Howard Kendall, though, Sheffield United may be on the road back.
It's a similar, smaller scale story further down. In Division Two, Elton John and Graham Taylor are re-working an old formula at Watford, Burnley have the resources to supplement Adrian Heath's managerial ambition, as do promoted Preston, while Barry Fry and Neil Warnock (now at Peterborough and Plymouth) have been down this road before.
Down on the south coast, the likes of Eamonn Do Ian and Neil Webb at Exeter, and best selling author Garry Nelson at Torquay (92nd last year), continue to ply their trade against the odds. Good luck to them.
