I know Holding is well down the pecking order and no longer fits our style but he's actually a decent defender in a different setup (let's not forget he was being touted for the captaincy during Emery's time). We also bought Squillaci for around £4m...and that was 15 years ago! There's no way in my mind he should be sold for so little but we are consistently bad at selling so...
All this being said, was listening to Charles Watts on the Arsecast and have come round a bit more to the fee for Balogun. He rightly pointed out that excluding PSG, French clubs don't have the kinda money we wanted. I still think we got a sub-optimal fee (£34m guaranteed is disappointing) but given we didn't want to sell to a PL club, we were unlikely to get more than £40m.