Championship Manager 4 Cheats

Glitch: Free Players
Exploit this glitch to recruit any player free of charge. Save your game first.

Get the target recruit's club to accept your bid.
When the target's club allows negotiation on the contract, click to offer the target a contract.
While on the contract screen, click the NEWS on the left navbar. Avoid the BACK ARROW at all costs.

Click on the recruit's name and withdraw the bid.
Now put up any amount you want. If you click the BACK ARROW now, you'll go back to the screen discussing the recruit's contract details. Offer the recruit a reasonable contract and when that player accepts, he will join your club for the amount you put up after you clicked NEWS.