Newcastle payment structure for Joe Willock summer purchase revealed
Not much was expected from Newcastle this summer – or any summer, really – when it comes to their ability to improve under the stewardship of owner Mike Ashley, but one key piece of business was a breath of fresh air at St. James’ Park when the Magpies secured a full deal for Arsenal’s Joe Willock.
Willock won over the hearts and minds of boss Steve Bruce and the collective Newcastle fanbase during his loan spell on Tyneside in the second half of last season where he hit 8-goals in 14-appearances and helping the club to a 5-5-4 record during his stay.
Newcastle have released a statement on the issue.https://t.co/KYGvEIWckO
— football.london (@Football_LDN) September 3, 2021
But the club has not been able to pay the entire £25million fee upfront to Arsenal as per their preference, and instead, today stated via the club’s official website that they would only be capable of utilizing a structured payment plan.
“Our preference to pay transfer fees up front, rather than spreading payments over several years, is well documented. We believe this approach to be in the club’s long-term interests, giving the club far greater certainty and control over its spending in future windows and seasons.
“In negotiating/securing this deal post Covid-19, we acknowledged the need to make an exception and, on this occasion, have spread the transfer fee over instalments. We did so this summer to secure a player who we know makes us stronger and who our head coach was unequivocal in his desire to sign.”
Did this affect Arsenal’s summer spending?
Arsenal instituted a massive reinforcement spree this summer under Mikel Arteta and Edu Gaspar, spending a Premier League-leading £140million and bringing in six players set for key roles at the Emirates in the long term, while also extending youngster Folarin Balogun with fresh terms.
But more was expected from Arsenal, particularly further additions in central midfield and even a potential move for a center-forward. To not receive those funds upfront from Newcastle could have potentially caused the club to miss out on further business this summer.
Despite that, the Gunners have plans to move forward with squad refreshment in upcoming windows, targeting the aforementioned midfield and striker roles, particularly find a long-term solution for Pierre-Emerick Aubameyang and Alexandre Lacazette.
Moreover, Newcastle having the inability to afford what is only a decent-sized fee upfront could put further attention into the club’s financial situation under Ashley, who has thus far held on to the club amidst multiple attempts from outside investors from purchasing the club.