Hes not far wrong.
In the grand scale of things, we have spunked most of the Felli money.
Kone 5m
Robles 1.6m
McCarthy 13m
Then theres the signing on fee for Alcatraazazaz, lets say 1m.
Barry loan, Lukaku loan, agents fees, Martinez compo, Backroom staff compo, new pitch, lick of paint, new badge.
Thats defo more than 27.5m
A £1m signing on fee for Alcatraz?
Really?
Come on, surely not. Barry loan wont be more than 50% of his wages, so what, £50k-£60k a week. Lukaku loan fee probably 50% of his wages too, so £30k-£40k. Agent's fees would just be pure speculation, will need sheedy to have a stab at those. Compo for Martinez was no more than £2m, I'm sure of that. Think it might have been as low as £1.5m (it was Martinez' wages for 1 year I think). And the backroom staff cost us nothing, Whelan himself said that.
Are we really accounting for the new pitch in transfer budget? Now that definitely sounds like Bill's accountant.
I would make it
£55k x 4 x 9 = £1.98m
£35k x 4 x 9 = £1.26m
£1m loan fee for Deolofeu, falling to £250k-£500k the more we play him. (Let's say £500k for sake of argument, but it may be as high as £1m even if we play him all the time. I remember seeing a quote from Sevilla moaning that they couldn't match what we were prepared to pay as a loan fee. Not sure how true this is or what the amount might be, so I'll settle on £500k)
£2m for Martinez & Alcaraz
So I make it
£6.24m + £5m + £1.6m + £13m = £25.84m
Given Liege possible sell on, and as you said other costs, then yes we've broken even on the Fellaini money I'd say.
But that's not factoring in the Anichebe money (£6m) or the fabled 'new TV deal' or just a transfer budget in and of itself. Such a thing does exist, I just don't think we know what that is. Southampton, Norwich, Cardiff, West Ham, Liverpool, Man Utd, Man City, Spurs, Arsenal, Chelsea, Villa all know what it is.