I'm not talking about the accounts, I'm talking about cash flow. I'm well aware of the accounting practices used by clubs on player contracts.
Whether or not the loans we have taken on this season are long-term or not, doesn't change the fact that this season we have to pay them.
In the summer, most of those loans will be gone and we'll have extra cash to play with. However, every man and his dog will be screaming that we need to replace the players we've lost - maybe we'll sign a couple of players, maybe we'll loan a couple - who knows? The point being that we will most likely end up back to the point we're at right now where we're paying out a similar sort of amount on wages (whether that be temporary or long term).
Now, assuming we're at the point where we're currently at the level we were at the end of last season as far as wages are concerned, it's entirely feasible that we don't want to eat into the capital we've built up from player sales by spending it on wages. The more sensible approach would be allow Heitinga to leave and use the wages we save on him between now and the end of the season on a midfielder on a temporary basis between now and the end of the season.
In the summer, we find out which loan players are leaving, which loan players we may be able to sign and which loan players we may be able to loan for another year. At that point, we're in a better position to establish what flexibility we have in terms of a wage budget for next season.
Signing a player permanently now affects this.