I've found the problem for people that purchased in the US. I think this is a bug and should be reported. When I create a new db, and save it, it gets saved in C

Documents and Settings\Owner\My Documents\Sports Interactive\Football Manager 2007\db. But the name of the game in the US is Worldwide Soccer Manager, and there is another folder for it (that gets created automatically). So copy your newly created db and paste it in C

Documents and Settings\Owner\My Documents\Sports Interactive\Worldwide Soccer Manager 2007\db
I hope this helps. It helped me!