Just looking over our transfer history from the past 3 years.
Townsend (£14m?), Mitrovic (£13m), Thauvin (£13m + £7m Cabella!), Shelvey (£12m), De Jong (£6m), Anita (£6m), Riviere (£5m), Ferreyra (£1.4m loan fee!), LDJ (£1.1m loan fee)
We've overspent massively on all them players in my opinion. Granted the 2 loan deals won't have broken the bank but what was the point in paying £1.4m for a player who was never going to make an appearance for the club and £1.1m for a player who was constantly played out of position?! For a chairman who is supposed to be frugal with his money he's wasted an canny load on absolute duds. £14m for Townsend just seems ridiculously overpriced for his goals/assists over recent seasons, we could pick up a better player for half the price