‘SO FAR as public opinion can be gathered, the payment of these huge transfer fees are not approved,” wrote Harry Walker in 1922. “It is common talk that no player is worth £5,000 or £6,000, or even a much lesser sum.” Let alone £80,000,000.

Harry was The Northern Echo’s football columnist for 20 years around the First World War – hugely knowledgeable about sport, although judging by that first sentence, his grasp of grammar was as shaky as Ronaldo’s concept of keeping on your feet at all times.

The spiral that led to the Portuguese player’s record-breaking transfer this week began in 1905 when Alf Common, who ended up a pub landlord in Darlington, became the world’s first £1,000 signing. Middlesbrough bought him from Sunderland and were accused of buying success and of destroying fair play.

The War dampened the market until 1922 when Falkirk bought West Ham’s Syd Puddefoot for £5,000. Then in two mad March days Sunderland twice broke this world record.

On March 2, they splashed £5,250 on Michael “Rubberneck” Gilhooey, a brilliant header of the ball from Hull City, and £3,750 on John “Jock” Paterson, a Scottish centre forward from Leicester City. The Echo called this double swoop “a sensational football coup”.

Less than 24 hours later, Rubberneck’s record was eclipsed as Sunderland spent £5,500 on Warneford “Warney” Cresswell.

“Thus Sunderland, in two days, have made one of the biggest football scoops of recent years – aye, probably in the history of the game,” wrote Walker.

Warney was a South Shields lad. He represented England at schoolboy level, and made 11 guest appearances for Spurs during the First World War. Due to the hostilities, the English league was suspended. But the Scots played on, so Warney turned out as a pro for Morton, Hearts and Hibs.

He then joined up, was captured, and saw the war out in a prison camp.

On release, in 1919 he signed for his hometown club – then in the Second Division – and in 1921 made his England debut. Spurs, Villa, Burnley and Newcastle chased his signature, but Sunderland had the deepest pockets.

He was part of football’s most expensive triumvirate that made its debut at Roker Park on March 4, 1922.

“40,000 long-suffering Sunderland spectators assembled to see the ‘stars’ shine”, said the Echo. “There may be varying opinions as to the wisdom of the Wearside directors’ sensational investment, but there can be no question as to the improved showing of the team as a whole. The ‘old hands’ seemed to be imbued with renewed life, and a speedy dividend was forthcoming in the form of two points.”

Charlie Buchan scored the only goal of the victory over Sheffield United.

The Wearside galacticos helped mid-table Sunderland to twice come within touching distance of the title in the mid-1920s. While Rubberneck flopped – a knee injury limited him to 20 appearances – Paterson was an important goalscorer, and Cresswell oozed class.

Nicknamed “the Prince of Full Backs”, he made devastating forward runs, passed accurately and tackled skilfully. He was a gentleman – when he accidentally broke an opponent’s leg, he rushed to the hospital with a pouch of tobacco as a get well present.

In 1927, he transferred for £7,000 to Everton with whom, as captain, he won two league titles and the FA Cup.

Warney lost his tag as the world’s most expensive player in 1928 when Arsenal paid Bolton £10,890 for David Jack, and he died back in South Shields in 1973 – just as £920,000 Johan Cruyff succeeded to his title.

Now the record is Ronaldo’s – do you think “the Winker” would dash to an injured opponent’s bedside proffering a packet of Silk Cut?