I don't think money has got anything to do with it whatsoever. We are not in financial shit to the point that £12m is beyond us.
I strongly believe that Fergie is literally torn on what to do about Ozil. I think, in an ideal world, he would rather be in this situation in 12 months' time when Scholes and Giggs are likely to be retiring but he knows that leaving it 12 months might be too late because if Ozil is on a free, someone like City will come along and offer him something ridiculous like £250k/week that we simply couldn't and/or wouldn't compete with.
Signing Ozil now is almost an admission that he doesn't really believe that Cleverley and Gibson are the future for the midfield. I genuinely believe he wants to give them every chance this season - as he has given them every chance during pre-season to prove their quality and ability to step up.
Again, this is why I think Fergie would like the Ozil option next summer - after he has given Cleverley and Gibson plenty of match time and been able to make a proper decision.
Whether we think Cleverley and Gibson are better than Ozil or not is irrelevant, Fergie has his reasons for keeping the faith in them for now - mostly loyalty, perhaps. Show them loyalty now and he will get it returned in spades for the rest of the time that he remains their manager.
Personally, I discounted the purchase of Ozil the minute Fergie said that Cleverley wasn't going out on loan. Sorry, Ozil fans, I just don't think it's gonna happen.