Companies House updates reveal £31m Leicester City transfer decision
The deals for Harvey Barnes and Timothy Castagne saw payments set out in instalments, but City have opted to bring in the cash now as part of a loan from Macquarie
Leicester City have bolstered their finances by bringing in £31.3m owed to them through the sales of Harvey Barnes and Timothy Castagne.
The pair were sold to Newcastle and Fulham this summer with the deals including staggered payments. Rather than wait for the fees to be paid over the next two summers, City have opted to take the money up front from Macquarie, with the two Premier League sides to pay their fees to the Australian bank in August 2024 and August 2025.
This has become a standard practice for City. They took the same path for Riyad Mahrez and Wesley Fofana’s transfers in summers gone by, and did the same for James Maddison’s move to Tottenham earlier this year, when they brought in £26m.
The £31.3m they are taking from the Barnes and Castagne deals covers two-thirds of the transfer fees they were owed for both. These are the final two instalments, with City paid a fee up front in the summer.
The details on Companies House show Barnes’ switch to Newcastle totalled £34.5m, with City now bringing in the final two payments of £11.5m each. For Castagne, the deal came to £12.5m, with the last two instalments at £4.2m and £4.1m.
City have done regular business with Macquarie over the past five years, and have taken out loans secured against Premier League TV money and parachute payments.
