Under the current owner there is no chance we are spending 5 million on a single player. None. I highly doubt we will spend that much in total on transfer fees.
I get where people are coming from when they say “5 million isn’t that much to spend on a player who could be worth 20 million in a few years.” But very few Championship clubs can spend that much on a player. Even with parachute payments, you’re struggling to break even without investment from the owner. With owner investment, you’re struggling to comply with FFP regulations.