In today's football, Premier League clubs basically start at £10-15m for players. Even turd clubs like Bournemouth drop those sort of sums without even flinching. Those sort of fees are basically what gets thrown around on any old run-of-the mill squad player. The top 5 or 6 clubs, meanwhile, are now in a world where the starting point seems to be £35-40m.
Sheffield United has never lived in the real world, however. We laugh at Barnsley for being the land that time forgot, but in terms of football finances, we're no better.
£12m is a paltry sum in today's market. Absolutely pathetic. It certainly can't be classed as "silly money" unless the connotation of 'silly' is the opposite i.e. silly because it's a giveaway. It doesn't set the club up financially and it doesn't give us any particular muscle in the transfer market. Watch the sums of money that other Championship clubs throw around in coming weeks on Premier League failures or Championship specialists from rival clubs.
Frankly, this better not be true.