Personally I think the main reason we have let players contracts run down is the European Super League.
I think this is significant from Agnelli.
Agnelli, who is also the chairman of Juventus, raised the possibility of reforms to the transfer market to create a more competitive balance in European football.
“The moment is fertile to think of greater solutions,” he said. “We should be looking at a wide range of reforms.
“We could think of a double path transfer system, where clubs qualifying for specific tiers of international competition wouldn’t be allowed to buy each other’s players.
“That would improve the indirect solidarity to other clubs and mean no triple-figure transfers amongst Champions League participating clubs. These are elements we are discussing.”
So combine no transfers between clubs in the same level of competition and clubs only being allowed to spend a percentage of their income on wages and I can see why players haven't been offered new deals. Why offer players 5 year bumper deals when FSG thought we would be in the ESL cartel and clubs would be able to force down wages.