Phil SumblerThe transfer of Joe Rodon to Spurs in October 2020 was deemed to be an essential piece of transfer business for the Swans at the time, however a charge registered by the club at companies house this weekend reveals that more than £5m is still owed by the Premier League club as a result of that deal.
As has become normal practice in football transfers, fees are made over a period of time rather than all at once. It was an issue for the Swans at some stages in the past with the club preferring to ensure all fees out were paid within the same year as the deal was struck but not always able to get the same terms back on the sale of players.
Rodon left South Wales for North London just over a year ago and whilst he has struggled for game time since the move the Swans were keen to get a deal over the line with the club feeling the full potential impact of the impending loss of parachute payments and the loss of income due to a global pandemic.
A deal was struck between the two clubs with Julian Winter negotiating with former Swans chairman Trevor Birch who privately told people close to him after the conclusion of the deal that there could have been more money on the table had the Swans played hard ball over the deal.
The terms of the deal are now becoming clearer with two further installments due from Spurs in October 22 and October 23 – both of them at £2.75 million.
The club though are clearly needing that money right now and have adopted a normal football practice of borrowing against those installments through an agreement with Macquarie Bank Limited. The details of the loan taken – secured by a charge over the installments from Spurs – was lodged at companies house yesterday and references the two installments still due and states clearly that the repayment of the loan will be made by the installments from Spurs with them being required to pay direct to the bank and not via Swansea City.
The practice of following this is not unusual in football terms but highlights again the way that transfers are conducted although it is good to see that the money is repaid directly by the buying club and not by the club to whom the proceeds are due.
Rodon is widely expected to leave Spurs on loan in the January window having grown increasingly frustrated by the amount of first team football that he has gained since the move.
Spuds can keep the 5 mill and we’ll have Joey back he’s wasted there
hear hear
“Had the Swans played hardball over the deal there could have been more money on the table” It would seem that Julian Winter did not understand the value of Roden,
The of fans did. This helps to understand why Winter was happy to receive
only £2.5m for Roberts from Burnley and why the USA directors are sending someone over to handle January transfers.
Up your game Mr Winter.