I predict Sunderland will now spunk most of that on middle of the road foreign players, limp to promotion and use the word "net spend" approximately 456,000 times whenever anyone accuses them of buying their way out the division. So pretty much the same as Newcastle this season.
It's ridiculous in absolute terms, but in the context of current transfer fees I think that's quite a good deal.
Add that to the £93 million they got last season for finishing last. Oh and don't get me started on parachute payments