What does squad-cost ratio and anchoring mean in football?

In a recent discussion, the Ask Me Anything team delved into the concepts of squad-cost ratio and anchoring in football. Understanding these terms is crucial for fans and analysts alike, as they provide insights into team management and player valuation. The squad-cost ratio helps evaluate how effectively a team is utilizing its financial resources, while anchoring refers to the cognitive bias that can affect decision-making in player assessments. These concepts not only enhance our appreciation of the game but also inform strategic decisions in football management.