£40k a week wouldn't even get him near the top wages payed to championship players THIS season, never mind 2 seasons time.
If you've got parachute payments you could easily pay £40k. Southampton were paying Ward-Prowse £100k a week, and over £40k to a number of others, Leicester were paying over £80k a week to a number of their players. Leeds were paying Jack Harrison £100k a week and others £50k+
We are near the bottom of the Championship for squad budgets, and yet are supposedly paying our top earners £25k a week.