Also a good point.Joe Cole on a free probably picked up £3m signing on fee. He got £5m when the RS signed him on a 'free'.
£4m is peanuts, should just pay it up front and be done with it.
New television money means the market is totally out of whack right now as well. Once this money is all spent it may settle down, but £4 million is pretty close to as cheap as you can get for someone to come in a do a job for a team in Everton's position these days.