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Friday, 22 January 2016

Confirmed: Bale world record fee and instalment payments

Gareth Bale's agent has spoken of his disappointment that his clients contract has been revealed which confirms that this is the genuine article. In the first part, I revealed that there was a first refusal option allowing Spurs to match any offers for him within 3 days.

It is not often you get the chance to look at a contract and see what type of clauses are actually inserted so it will be well worth reading the whole series and taking a read of the contract yourself. That may be a bit much in one go so I have broken it down into pieces.

Yesterday I revealed the first refusal option Bale has and if you missed that just click the link and you can read that article first. Spurs have first refusal on Bale

I'll take the opportunity to say thank you once again to everyone who clicks on an advert when they visit my site, that quick and simple action helps pay the bills, every little helps.

Real Madrid paid a world record £78 171 930 for Gareth Bale in the summer of 2013, that's £78.2-million (US$110.8m - AUS$160.5m - €101.7m at today's rates) exactly as the ITK at the time was saying.

Page One of the transfer agreement goes through the two clubs and the player, testifying who they are and the basic conditions for the transfer of registration to Real Madrid.

Page Two starts talking figures and sets out the payments Real Madrid must make to Tottenham each July. There is a lot of misconception from fans over instalment payments, especially with it being wrongly thought by some that we didn't have to pay the rest of the fee for Roberto Soldado if we sold him.

Quite how anyone can come to that conclusion is unclear, it would be impossible to run a business in those circumstances as the selling wouldn't know what income they were going to have and thus wouldn't be able to budget for transfer spending. Regardless of his future, we had to pay what we were contractually obliged to pay, in instalments, for him.

The same situation applies to Gareth Bale, if he were sold last year, for instance, Real Madrid would still owe us the rest of the money for him, it isn't suddenly cancelled. In fact, in this contract, the outstanding amount becomes immediately payable within 14 days. Such a clause is quite standard in contracts. That stipulation is at the top of page three which we'll look at in the next article.

It is no different to taking out a loan on a car, you have to pay the instalments or pay them off in a lump sum. Selling the car makes no difference, you still have the debt to pay.

That is the first two pages of a six-page contract so time to rest the brain for a while. In the next article in the series, we will take a look at more pages.



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