I'm on record in this thread as saying my ultimate preference with Tel is loan with option, not obligation, not straight purchase, not straight loan. Loan with option gives us the leeway to agree a deal with Tel if he works out, or send him back if he doesn't.
My point about Sanches is that it doesn't matter how much hype and promise Tel has behind him, just as Sanches had at that point, he could come here and completely fail to adapt to the league. I'd rather not spunk 50m outright on the off chance he does flop, but also rather not be left holding the bag in 6 months time as he agrees a big move to one of our direct rivals after we've just spent all that time adapting him to the league for them because we were too short-sighted or small time to agree an option in the loan.