Arsenal are only set to receive Joe Willock’s £25million transfer fee in instalments, Newcastle United have revealed.
The midfielder completed a permanent switch to St James’ Park earlier this summer after initially impressing on loan.
He departed the Emirates Stadium for a fee of £25million and penned a six-year contract in the north East, having been Arsenal’s only significant outgoing of the 2021 summer transfer window.
It was thought that the money the Gunners received would allow them to bolster their own funds and that certainly appeared to be the case with a deal shortly completed for Real Madrid’s Martin Odegaard.
However, it now appears that Arsenal did not receive the full fee for his services, with Newcastle United having revealed that they have committed to pay the midfielder’s asking price in instalments - a relatively common practice when it comes to transfers, but not commonplace for the Magpies.
In a statement published on Newcastle’s official website, the club announced: "The deal to bring Joe Willock to the club was formally completed on Friday 13th August 2021 and we are beyond delighted to have secured him.
"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."
Despite having enjoyed a prolific time with Newcastle during his loan spell last season, Willock is yet to get off the mark for the Magpies in 2021/22.
