What makes you say 12m is a giant in our budget? Its a pittance for most decent signings, so scale down on the hysteria.
And just because a team is unwilling to terminate contract and just count is as a loss, doesnt club have nothing to spend for transfers. The former is bed red in the books, the latter is not only a player you wanna use, but someone you see as asset.
So calm down, don't let the doomsday mantra around here make you into hysteria. Every time its been exaggerated how broke we are, we shown we are willing to spend. So 12m should not be raising any alarms in your mind.