By Kieran Maguire

13th Aug, 2021 | 7:00pm

Kieran Maguire explains all after £6m Aston Villa-Mings payout last week

Bournemouth took out the equivalent of a “payday loan” to get the cash upfront after the sale of Tyrone Mings to Aston Villa in 2019.

So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the Cherries’ arrangement with Macquarie Bank.

As per documents filed with Companies House in September 2019, Villa paid the final £6million instalment of Mings’ transfer fee on 7 August this year.

But Bournemouth received the entirety of the £20m transfer fee from Macquarie immediately after they sold the centre-back to Villa.

Maguire explains that the arrangement was beneficial to the Midlands side in terms of their cash flow.

He told Football Insider correspondent Adam Williams: “The way that it works is that Bournemouth and Villa arrange the deal for the player.

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“Then, effectively what happened is that Villa put down a deposit and then there were two more instalments of £6m.

“That’s quite standard as far as multi-million pounds transactions are concerned.

“So sat in the draw in the boardroom at Bournemouth were two IOUs from Villa.

“They go to Macquarie and say they have these two IOUs worth £12m and ask what they’ll give you for them now. It’s the equivalent of a payday loan.

“Macquarie will say they’ll knock off, for example, six per cent per year and give you £11.2m. So Bournemouth get the benefit of getting the cash upfront.

“Villa write that cheque and then it is immediately re-transferred to Macquarie.

“It’s a cash flow issue. So the benefit for Villa is that there is now no more outgoing cash flows as far as the Mings purchase goes.”

In other news, Gabby Agbonlahor shares “perfect” Louie Barry prediction after he leaves Aston Villa for Ipswich Town.