Kieran Maguire reveals Newcastle United have paid just £2m for Nick Pope as new details emerge
Newcastle United have so far paid just £2.33million for Nick Pope despite Burnley having received his full £7m transfer fee.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the financial details of the 30-year-old goalkeeper’s move to St James’ Park.
The Magpies announced the signing of Pope on a four-year deal last month (23 June).
Reports at the time suggested that Newcastle had paid relegated Burnley £10m for his services.
But a Companies House update filed by the Clarets last Thursday (21 July) shows that the real fee is made up of three instalments totalling £7m.
The document shows that Burnley have cashed in on all three instalments in one go through an agreement with Macquarie bank.
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But Maguire explains that Newcastle will have paid just the first £2.3m for their new shot-stopper and that the next instalments will go to Macquarie instead of Burnley.
“This will have zero impact on Newcastle because they still have to make their financial commitments on the agreed dates,” he told Football Insider’s Adam Williams.
“The beneficiary will be Burnley in the sense that they will get cash two or three years earlier than might have been otherwise.
“Macquarie will also benefit because they are charging in the region of eight to nine per cent as a rule on these deals.
“Those charges might have gone up because global interest rates have increased and also because there is an increased financial risk after relegation.”