Earlier this week, we covered reports that former Gunner Mark McGuinness was set to sign for Luton Town, and that Arsenal were in line to profit from the move thanks to a sell-on clause in the defender’s contract with Cardiff City.
McGuinness has since officially completed the move, and The Standard have revealed the details of Arsenal’s sell-on clause.
Simon Collings reports that Arsenal were understood to have a 30% sell-on clause in McGuinness’ contract, and they’re banking around £2m from the transfer.
The move was reported to be worth up to £10m, with the Standard confirming that figure, but at least part of that total was comprised of add-on payments.
If Arsenal are receiving £2m from their 30% sell-on clause, then the initial guaranteed fee must have been closer to £6-7m.
It seems the Gunners could be set to earn another £1m over the coming years, should McGuinness meet his add-on targets with Luton Town.
The move is a positive one for McGuinness himself, with Luton looking to bounce back up to the Premier League.
The centre-back made 86 appearances for Cardiff, and he leaves them on a high. He scored and helped Cardiff to keep a clean sheet in his last appearance against Bristol Rovers in the League Cup last week.