Leicester City get £26m boost in fresh deal over James Maddison’s Tottenham transfer
City were not due to receive the funds until next year and the summer after, but have done the same deal they did with Riyad Mahrez and Wesley Fofana’s transfers
Leicester City have opted to bring in the £26.7m they are still owed by Tottenham for the transfer of James Maddison.
Through Australian bank Macquarie, City have chosen to receive the money now, rather than wait for Spurs’ two remaining instalments, due next summer and the summer after.
Spurs paid £40m for attacking midfielder Maddison this summer in a deal many pundits are already calling a bargain after his fine start to the Premier League campaign. City received a third of the fee, £13.3m, up front, but were not due to receive the other two instalments of the same amount until July 31, 2024, and on the same day in 2025.
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City will receive the remaining £26.7m now, and Spurs’ payments will go to Macquarie. But Norwich’s split of the fee is secured and they will still receive the £1.6m they are owed for the sell-on fee written into Maddison’s contract.
This is not the first time City have conducted such a deal with Macquarie, doing so for Riyad Mahrez’s £60m transfer to Manchester City in 2018, and Wesley Fofana’s £75m move to Chelsea last summer. They have also taken out loans with the bank in the past too, secured against future Premier League payments.
As well as Maddison, City sold Harvey Barnes, George Hirst, and Timothy Castagne this summer, with fees adding up to around £95m. For the signings of Conor Coady, Harry Winks, Mads Hermansen, Stephy Mavididi, and Tom Cannon, they spent around £37m.
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