Depends on how the £28M is. If it's all upfront it's rough, but might very well be Worth it. If it's £18-20M up front and the rest in installments, it's not that bad. Especially not if a few of the £M is based on us reaching EL or CL competitions.
Lets not worry how much we've spent, we support a team with players not worry about the money side. I would rather buy the best young striker in Europe then buy a cheap one and never see the money again