Would you pay a premium of 30% of your valuation for a car, or a house? Where should they draw the line? Is £10 million difference too much? Is £20 million?
If Barcelona offers £30 million and Arsenal value Fabregas at £40 million, should they just cave?
It is not just the £4 million here; it is the knock on effect. There will be negotiating: Arsenal will just pay whatever the selling clubs (and the Arsenal fans) demand.
As for the board being out of touch, I would (dis)respectfully suggest that it is some fans who have little grounding in reality when it comes to the financial aspects of running a business. While we support a "club", let's not lose track of the fact that this is a business and therefore it has to be run on sound business practices.