Look at it another way then Doc, we pay whatever transfer fee now that we have agreed in the £5-6 million bracket (plus additional extras as and when), and find out he's not the player we thought he was and don't get promoted. We then have a player that Bielsa will have some time in the summer for next season, but we will also have a reduced transfer budget ( of lets say £6 mil). If James turns out surplus to requirements, we are £4 mil down ( in comparison to the deal presently being muted), with a player that has residual value, but do we get our money back in the summer, or do we let him sit in the under 23's until someone pays us the fee we want (btw I don't expect this to happen , just putting it out as a scenario)
To me the deal looks like Swansea need money but don't want this particular player to leave, and with it being January transfer window, they have put a premium on his price. We want the player. but aren't prepared to pay that price (I'm sure numerous posters can come up with various reasons for that). The player announces he wants to leave Swansea, but we are unable to agree upon a valuation that satisfies both clubs.
Someone from either of the clubs comes up with the loan now pay more later deal, which both clubs decide is an acceptable alternative. Both clubs get a short term benefit, Swansea receive a higher transfer fee in the summer, and we are able to budget for that at the same time, presuming we get promoted, or if we don't we can then maybe look to strike a new deal, if we still want the player.
Is this not the type of deal that we as fans would've preferred the club to take as a gamble on promotion, in all those previous January transfer windows, when managers wanted players but were not supported by the board.
Yes we are paying over the odds in the end, but we are receiving the benefit of a player that the manager feels will help to secure us promotion, and all the benefits that will bring. Is that worth the gamble, I'm sure both Simon Grayson and Gary Monk would've jumped at that type of deal if it had been offered by the Leeds board when they were in a similar situation.