I think after a certain point money is over-rated.
What if Liverpool of even Arsenal have 100mil to spend in the summer. Who would you buy who would make a difference and who would choose you over Chelsea, Barca, ManU Real etc? Messi, Terry, Henry, Ronaldinho, Rooney, Ronaldo, Nesta etc?
I don't think more money will make much difference to a club like Liverpool or Arsenal as you will still be buying the scraps the current top clubs don't want. You'd end up buying lots of squad players but no one who would replace your first team players.