Hmmm. Does seem high. Especially with us not signing a hell of a lot of permanent players in that time.
The highest in League One (Millwall and Wigan have higher but they were in Championship for much of that period).
Loans are still a deal that someone needs to facilitate (the agent). I liken it to using a recruitment agency. Permanent placements receive a one-off fee payment to the agency. Contractors fees are paid to the agency monthly throughout the term of the contract (ie loan) arrangement. Not a direct analogy but I'd imagine agents receive some fee to cover loan arrangements as well as permanent deals.
