Even if we had the money, which I doubt, would it make sense to buy a 29 year old who'll have little resale value in a couple of years just in the hope that we can qualify for the Champions League.
If it was a younger player it might be worth the risk but it'd be a huge gamble either way.
All I can think is that the money available is from the new TV deal, if there's any truth in this rumour.