Yakubu cost 750k in a loan fee. Naughton was around the 500k mark, we outbidded QPR for him and Warnock conceded that the fee was daft. Bruma a similar amount, Benfica and West Brom asked about him. Sven has confirmed that there's a set amount with Chelsea lads which is lowered on games played. The players we've signed on loan we've beat off competition and offered bonuses. Bruma bought a new motor off the back of his. These players are all earning a decent wage as they've been signed from elsewhere to their respective clubs unlike Cleverley, Davies, McGivern etc.
The lads you've mention also fetched loan fees under Pearson but there was less competition. Similar to this, Mee and Cunningham had no add-on's due to a lack of interest.
Your argument is almost my point. Davies, Kirkland and Bednar all signed with probably loan fees. No Championship club would touch Davies, Kirkland's deal with Cardiff broke down and Bednar ends up in Turkey despite Bristol City's interest. Again we paid their wages in the case of Davies who'd probably be on a similar amount to Yakubu for three months, Kirkland and Bednar's for a month too.
Ask yourself why Cov only had Van Aanholt for a short period of time but only Newcastle could take him on for a longer period. Middlesbrough were spending money left, right and centre under Strachan.
Add to even that Wellens and Gallagher's new contracts with signing on fee's too. Bamba's too. Plus them daft signings by Sousa too will have signing on fee's...Moreno cost money.
And eventually add numerous percentage's going to agents.
To top it off, the owners have been quoted as saying this season budget was surpassed in January.
There we go, easy.