I've told this story before on here but it's always worth telling again. I originally got this story from the CEO of another English club (not City) who was trying to buy Rooney at the time but I had confirmation of it from someone at City later on. We'll call the CEO 'Paul' (not his real name) and I should make clear he's not still in the role.
Paul knew I'd had good contacts at City and also knew my neighbour, who'd designed a new training complex for them. One Friday afternoon when the Rooney transfer request story was headline news, Paul spoke to me telling me he was at OT and trying to sing Rooney. He told me that the rags' wage ceiling was £90k a week and Rooney's agent wanted double that. The Glazers had said no originally but, after he put an offer of £160k a week on the table, they caved in. He spoke to me while he was sat outside Gill's office and they were having a phone conference with the Glazers in the USA. The rumours were that City had made a huge offer and he wanted to know if I could find out if that was true or not. I had to say that, even if I could, it would take me quite a while as things were a lot tighter since the takeover.
He then said that he thought he'd been taken for a mug and that his suspicion was that they wanted to get an offer on the table to use as a bargaining chip with the Glazers. This explains the "no value in the market" comment of Baconface of course, as no decent player would go there for £90k a week when other clubs like City were paying a lot more. He then laughed and told me that it'd cost them as there were 5 players who had a "highest-paid player" clause in their contracts and that all would be getting the £180k a week, with others asking for commensurate increases (i.e. double their current package). Rooney did indeed sign a new contract and their wage bill strated to shoot up.
Eventually I got information from City that they had been approached about Rooney at the time but smelled a rat and demanded that his agent produced a genuine, written transfer request before they'd talk money. No such document was forthcoming so there was no offer and the £250k a week being splashed in the media was obviously put there by the agent.