Celtic have sent a letter to the London Stock Exchange that confirms Arsenal paid Kieran Tierney’s £25m fee in one lump sum.

Arsenal made two bids for Kieran Tierney that were both rejected before they finally offered the Scottish side what they wanted.

The first bid of £15m was rejected out of hand.

The second, which totalled £25m, contained too many add-ons.

Now, with Celtic’s letter to the stock exchange we can see that Arsenal paid Celtic £25m in one lump sum, the most they have ever received at one time.

Given the supposed lack of cash Arsenal had on hand this summer, this news makes the sale of Alex Iwobi to Everton for up to £34m even more understandable when you consider what the club also have to fork out for Nicolas Pepe.

They paid an initial £20m upfront for him which, when added to the £25m for Tierney, used up Arsenal’s entire budget this summer yet we also managed to sign William Saliba (£25m), Dani Ceballos on loan (£5m), Gabriel Martinelli (£6m) and David Luiz (£8m).

However…

Earlier this year it was widely reported that Arsenal would only have a £45m transfer budget this summer, after failing to qualify for the Champions League, but the club has actually splashed out well over £100m. This thread explains how this was possible #AFC

— Swiss Ramble (@SwissRamble) August 13, 2019