"I think the reality is that, that money was probably badly spent"

Alan Hansen's quote recommends that money was lost in a particular scenario. He is indicating that the money was not utilized in a way that was beneficial or productive. This might imply that the cash was spent on something that was not essential or that it was not utilized in the most effective way. It could also imply that the money was spent on something that did not yield the desired results. In any case, Alan Hansen is suggesting that the money was not used in such a way that was useful or efficient. This could be a cautioning to others to be more conscious of how they invest their money and to make sure that it is used in a manner that will yield the very best outcomes.