Signing back-up options is one of the things I want us avoiding at all costs (hence why I was open to keeping Theo for an extra year, to avoid needing to sign such players).
Doing that is what turns a side into a yo-yo team. Going up into the PL with players who were recruited for the Championship, but are nowhere near good enough for the PL. You struggle to offload them after you go back up because they've been given a wage rise, a three/four year contract, and are quite comfortable spending the next 12 months as a "PL player".
By all means bring in loan signings, or promote from the youth team. But any permanent signings should be with the aim of being regular starters for us next season.
At 29 years old, having never played top flight football, I doubt his wage demands will be too unreasonable. And its a 46-game season, not to mention cup games. We need, realistically, 3 or 4 new CMs. If he is our 4th choice, that's fine with me.