I am not saying you’re wrong but I look at it differently.
If you sign a young player for 10m say, chances are they are on low wages and even if they don’t make the grade you will still be able to sell him to a championship club for 5-10m in a couple of years time.
His wages wouldn’t be to much for them to take on and you get some money back to reinvest.
Vlasic , Gerri , lookman even the Nigerian Henry bloke that never played for us all turn into successful business transactions despite not making the grade .
It’s signings on big wages that kill is as when they flop we can’t recoup anything as nobody will take on their contracts and they leave for free costing us millions
Mina 27m
Gomes 25m
Tuson25m
Walcott 20m
Bolasie 27m
Allan 20m
Williams 11m
Schneiderlin 20m ( recouped 2m)
Niasse 13m
Siggy 45m
Gbamin 20m ( unlucky with injury)
Sandro 5m
Delph 8m
I’m missing players no doubt but that’s 266m in fees and 2m recouped ..
Add in wages and we are taking double that figure with no improvement in the squad ..
Holgate , doucs , deli and probably Keane will all be on big wages and will probably end up getting us zero back in transfer fees