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If he's only "cover for Arteta and Wilshere" then he's obviously not the earth shattering player your moaning would suggest he is.
He's a good player, no doubt at all about that, and we'd be better off with him than without him, but that doesn't mean he's worth paying stupid amounts for, for one season and then having to rely on Real Madrid, the least reasonable club on the planet no less, being reasonable at the end of the season.
Either we buy him outright, or agree a deal to buy him outright at the end of the season, or it's no deal. For me it is, anyway.
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It's not stupid amounts though, its his wages, which any club would expect to pay and a fee to get him on loan, with some reports saying 2.8m and others 5m neither of which would hurt us considering we are giving away players like vela, denilson and bendtner way below their market price due to desperation.
And either way even if there is a buy out clause he might want to go back anyway, and if there isnt we can make an offer, at the end of the day if he likes it here he most likely will stay and if he doesnt he will go back. Ridiculous assumptions and long term "thinking" has cost us too many times.