City made the identical arrangement they did with Riyad Mahrez and Wesley Fofana’s transfers despite the fact that they weren’t supposed to receive the monies until the following summer and next year.
Leicester City has chosen to collect the $26.7 million that Tottenham still owes them for the transfer of James Maddison.
City has chosen to receive the funds now through Australian bank Macquarie rather than waiting for Spurs’ two final installments, which are due next summer and the summer after.
After a strong start to the Premier League season, many analysts are already calling the £40 million price tag Spurs paid for offensive midfielder James Maddison this summer a bargain. City received a third of the cost, or £13.3 million, up front, but the remaining two instalments of the same amount weren’t scheduled to be paid until July 31 in 2024 and the same day in 2025.
The remaining £26.7 million will now go to City, while Spurs’ payments will be made to Macquarie. Norwich will still collect the £1.6 million they are owed for the sell-on price stipulated in Maddison’s contract, and their share of the fee is secured.
This is not the first time that City and Macquarie have worked together on a deal like this. They did so for Wesley Fofana’s £75 million summer transfer to Chelsea and Riyad Mahrez’s £60 million move to Manchester City in 2018. Additionally, they had previously obtained bank loans that were backed by potential Premier League payments.
This summer, City also sold Harvey Barnes, George Hirst, and Timothy Castagne for a combined total of over £95 million. They spent almost £37 million for Conor Coady, Harry Winks, Mads Hermansen, Stephy Mavididi, and Tom Cannon.
