Arsenal will make a small profit after Middlesbrough completed the signing of Chuba Akpom this weekend, due to a sell-on clause in his deal.
Middlesbrough completed the signing of Chuba Akpom from PAOK on Saturday, who has a sell-on clause from his time with Arsenal.
The Gunners put a 40% clause in the player’s contract for UK clubs, which actually got them in a bit of trouble when FIFA’s disciplinary committee ruled it wasn’t fair to include a sell-on rate at 40% for UK teams and 30% for all others.
Arsenal paid a fine for that, but the 40% clause still stands. With PAOK selling for €3m, that means €1.2m is heading to North London.
Akpom was a regular starter for PAOK, including in their positive performances over the last few weeks. The Greek side knocked Besiktas and Benfica out of Champions League qualifying, with Akpom starting both games and providing assists in each.
The 24-year-old also scored a cup-final winner with an overhead kick and won the league unbeaten during his time in Greece.
Although he didn’t score in his first three games of the current campaign, clearly Akpom did enough to impress his coach and the Middlesbrough scouts.
Arsenal will put the sell-on money towards the signing of backup goalkeeper Rúnar Alex Rúnarsson, who they’re reportedly bringing in for around £1.5m.