Can see it happening purely because who goes into a season with only one centre forward in the squad, said forward being a developmental project who has already suffered 5 separate injuries since joining and is at risk of burning out before he ever comes good? A £60m striker in the squad with all the goals we need sounds pretty good to me.
And as
@Cassidy has pointed out, the 3 teams actually in a title race do indeed all have two options each that would be valued at that mark or more.
I don't think we'll end up signing Toney specifically - he'll probably go to Arsenal to be one of three strikers. But I also don't think it will be because the club looks at our options (well, option) and figures we're good in the position.