It doesn't matter when he was signed. Transfer fees can be either accounted in lump sum or amortized over the duration of the contract. Obviously we can't recognize anything in lump sum considering how much we spent on transfers, so we have to amortize everything. Hence we didn't play 50M for Torres, rather 10M each year for the duration of his contract. We've had him for 1.5 years, so we've only paid 15M for him so far. If we sell him now, for let's say 15M it means we have to recognize a loss of 35M-15M = 20M in THIS year. As opposed to a 10M transfer spend per year for the remaining 3.5 years. Sure, the next year we'll be 10M better off, but considering how much we've spent this year I don't think we can take that 20M hit. And of course that will also mean buying more strikers, just not feasible.