7m€ is not fine unless you are Eto'o like player. We can't afford to have players that expensive when FFP comes. Eto'o is so good that we can have him, but it means we have to have lesser players in our squad. If we get another player with his massive salary, it means we will have even more lesser players. IMO Tevez's quality doesn't correspond to his salary so that it would be wise to add him + more lesser players than now.
If Tevez is willing to take a serious paycut, it's a different matter. And like Hasan said, get rid of Milito, Pandev and their salaries (i.e. we don't pay part of their salaries) first, then we can talk.