[Sir Megson]

As I remember it, I doubt whether Lukaku would have signed for us. He knew a bigger club would come in for him, one that could springboard his career better than we could have.

I know you see these sorts of posts all the time 'friend of friend of friend' type and they seem hard to believe...

But, a good friend of mine worked closely with Lukaku when he was here and after his loan spell, he would've signed for us. He loved it here, loved playing, loved the way he was treated by the fans. He lives and breaths playing football. Let's remember, we were the side that gave him Premier League football.

We wouldn't put up the cash to sign up, but despite that, he wanted to come on loan again.

However we were dilly dallying and left it until the last minute. We'd signed Anichebe and were trying to sign someone else permanently and only went back in for the loan when that fell through. Everton on the other hand showed real interest in him and Roberto Martinez called him up assuring him first team football. That's why he turned us down and went there.

Everton then signed him at the end of his loan spell and in that time, his value had already risen by a solid £10m. I think they paid around £30m for him, we could've got him for £20m.

All ifs, buts and maybes. But he showed massive potential with us and the board failed to push the boat out. So far, I've seen nothing from the new board to suggest they will be any different.

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If I've made this argument once, I've made it a thousand times, but you won't get people to listen.  Some folks live in a fantasy world where numbers are all that count, and players' own feelings, ambitions and perceptions of different clubs apparently just don't exist.

You'd think it would have sunk in by now that clubs like Southampton are minted and pay top-level wages, but still every single decent player (or manager) they get eventually jumps ship for Spurs or Everton. It's not just about the money.

Of course, if West Brom, Leicester, Southampton etc sign any 'potential' player for £15m - £20 - and they do well, they will be sold.

Van Dijk at Southampton prime example. Cost a pretty penny at £15m, but could easily go for 2-3x that amount.

However, the good thing is, that gives you the cash to sign several good players. Much like Everton are doing now as well as Leicester (who I guarantee are using the Mahrez money in advance).

Our problem is we've invested in nobody and now have nobody worth selling. We have to keep replacing our old heads using the TV money, where as other sides are using the TV money plus sales. I'd really like to see our board push the boat out for some proven young talent occasionally. Lukaku was the prime example of a chance wasted.

Interesting insight Slick and I don't doubt it for a second - but I love where I work, wouldn't change it for the world. But if somewhere else came calling that were offering me more money I'd have to reconsider, despite my current work having given me my chance and my enjoyment of working there. Of course we'd all of loved another season of Romelu up the Albion, but it didn't happen and here we now are. Still in the Premier League competing with clubs that are paying £75m for one player. Punching above our weight despite our penny pinching which is impressive.

As far as nobody worth selling...

Evans? signed for about £6m (links from Leicester of £20m+ offer as they are desperate for defenders since Morgan and Huth are both not any younger)
Rondon? signed for £12m (links of a lucrative £30m offer from China)
Matty Phillips for £5.5m - would get more than that back if sold.

We've repeatedly broken our club record transfer fees season after season and also during a takeover of the club so I'm not going to criticize the board. From the early 2000's onwards through Thompson, Peace and now Lai we were and are the model of how to run a newly promoted club in the Premier League. Our journey to where we are now was fantastic and too often forgotten. Many involved in the game, especially Sean Dyche to my knowledge have stated they viewed us as an example.

Right now we don't have a Mahrez, a Stones, a Lallana et al that we lucked out on signing at a young age and then went on to sell at huge profit, but that's not to say it won't happen. We could have some very exciting prospects being lined up right now and the paper talk at the moment is just smoke and mirrors. We simply don't know... yet.

And if we were to obtain and then later sell a player of that calibre and couldn't hold onto them we'd be bemoaning letting one get away. Berahino could have been that player if it wasn't for the souring of his relationship with the club and fans.

The club just cannot win at the moment despite having what I'd say was a successful season last term and was only let down by the poor run at the end of it.

In other news. Hal Robson Kanu has signed a three year deal and most fans (judging by Twitter) are not impressed. Personally I thought he did alright despite barely getting any starts, and when he did start he never had a shocker imo. Came up with some important goals and useful to have around the place.

But clearly because his name isn't ChristianoNeymarMessiLukaku and hasn't cost £100m+ he's obviously shite!

And where do clubs end up after wisely reinvesting? Southampton, mid-table. Leicester, mid-table. Swansea, just escaped relegation.

By all means, do it if you can. But let's not pretend that it's a route to anything significantly better than our current position in the league. The much-vaunted "next level" is, quite simply, unattainable.

Nail on the head.