He got released by City because no manager liked him, waited till August for when all players start to get desperate and said he's 13k as a key player for a year come play 
Almost shocked he went for it!
With the payments thing it doesn't work if the club doesn't have the money, so if you have 100% of the transfer budget you wont be able to get any more money by spreading the payments (I think). So the per month thing comes out of the club balance but if the balance cannot give you more transfer funds (both currently and from the projection) it wont let you buy them (unless you are portsmouth.... badum tishhhh).

Almost shocked he went for it!
With the payments thing it doesn't work if the club doesn't have the money, so if you have 100% of the transfer budget you wont be able to get any more money by spreading the payments (I think). So the per month thing comes out of the club balance but if the balance cannot give you more transfer funds (both currently and from the projection) it wont let you buy them (unless you are portsmouth.... badum tishhhh).