2.75 million for Euell? and we turned it down?

The club's revelation that they turned down a last-minute 2.75m bid for Jason Euell from Crystal Palace is frankly astounding. Despite being an important squad player, this sounded like an opportunity to replenish the coffers and use the cash to strengthen in areas where we don't have much cover, either now or more likely, in the summer. I think Euell is one of the best finishers at the club, but his awful first touch and lack of passing ability renders him only average overall. His effort levels however have never been in question.

I wonder to what extent the club is suffering from a behavioural bias known as 'anchoring' whereby decisions are made based upon a prior 'value' rather than actual current value. The fact that we paid a ridiculous fee for him in the first place should not detract from the fact that his actual value (in my view) is nearer a million pounds in today's market.