Think the club have already planned for the wage bill being as high as it was
That bill was from the 19/20 season
As others have said, we got rid of Otamendi, Silva and Bravo who were all big earners plus Sane
And we brought in younger less well known players in Dias, Ake, Torres etc. Who's wages are considerably lower than those that left
Also the majority of the playing squad now minus Raheem, Gundo, Dinho and Jesus have at least 3 years on their current deal
Compare that to the Dippers who have Salah, Mane, Firmino, Fabinho, Van Dijk, Henderson, Keita, Oxlade Chamberlain entering the final 2 years next season
They will either have to give them a pay rise to stay (as for pretty much all it'll be their last big contract) or they will have to sell and bring in a replacement who will probably want more than those that left