OK lads here is the EL update. Now obviously it isnt 100% perfect but it has all the main issues sorted.
When you have downloaded, just right click, extract file and extract it to MyDocuments/SportsInteractive/FootballManager2008/db.
Then when you start the game up, when starting a new season, select EL update from the drop down bar.
http://files.filefront.com/EL+Update.../fileinfo.html