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I'm not so sure - transfer fee + wages = £4m gets you fuck all these days. There are supposed to be all sorts of bonuses in there and if he helps us to promotion it's worth it.
He should be OK for a year at championship level and will certainly kick some players up the ares that need it. Sounds like he still wants to be playing rather than just earning a final paycheck so I hope it'll be positive. Definitely a gamble though.
Is also the type of signing that could encourage others to come - eg some of Chelsea's 400 kids out on loan.JT though. All said through gritted teeth.
I reckon you could get someone equally as capable in that role for a lot less money.