The 'confidential settlement payout' of almost £6.5m listed in Sheffield Wednesday's accounts is not the compensation package agreed by Newcastle United over the appointment of Steve Bruce, ChronicleLive understands.
The Owls - who currently sit second bottom in the Championship - have belatedly published their accounts for the year ending July 31, 2019.
Wednesday reported an annual profit of £19.1m, but have also included the controversial sale and leaseback of Hillsborough.
However, one of the key figures picked out from the accounts by eagle-eyed observers was the figure listed as a 'confidential settlement payout'.
This led many supporters on social media - including Newcastle fans - to suspect it was the figure agreed between the Magpies and the Owls following the protracted appointment of Bruce on July 17, 2019.
Bruce resigned from Wednesday two days prior to being confirmed as the new United head coach, and his former employers expressed their disappointment at the move due to "outstanding legal issues". Steve Agnew and Stephen Clemence also left their posts at Hillsborough to work with Bruce at St James' Park.
Previous reports have estimated a £4m compensation package was agreed between the clubs. However, ChronicleLive understands the 'confidential settlement payout' does not relate to Bruce's appointment.
Any fee paid by Newcastle will not have been disclosed in the club's most recent accounts, which have only been published up until June 30, 2019.
