Negotiations between Everton and Newcastle United regarding a mutually advantageous exchange agreement that would allow both teams escape the gloom of PSR sanctions broke down earlier this week.
Before the end of the day on Sunday, both teams must find the money to get their budgets under the three-year loss maximum permitted by the Premier League’s hated Profitability and Sustainability Rules.
One tactic used by teams who are nearing or beyond their financial constraints to take advantage of a gap in the market is to “swap” players, whereby both clubs pay cash for the player whose value is comparable. In this method, the departure price is amortized over the player’s contract, affecting the current budget only partially, while the incoming fee benefits both clubs financially.
That deal was almost done when Everton allowed Dominic Calvert-Lewin to go with Newcastle and sent teenage player Yankuba Minteh the other way.
Dominic Calvert-Lewin will need to have his value reduced by the Toffees.
Sadly, Everton’s assessment of Calvert-Lewin was higher than Newcastle’s, and the Toffees would not bend, so the Magpies were forced to concede.
We assumed that this agreement would be revived more likely the closer we came to the PSR reporting deadline, and now The Chronicle is reporting that Everton has gone back to the negotiating table to make another attempt.
Now that the transaction is back on track, Everton appears set to lower their £37 million asking price for Calvert-Lewin.
Minteh is excited to play this summer for Everton.
Yankuba Minteh, meanwhile, has stated that he wants to stay in the Premier League and is eager to sign with Everton after declining to speak with Lyon even though the two teams had agreed on a £40 million deal.
It is understandable that some fans are upset that we are on the verge of losing such a promising player so soon after signing him, but it was a wise decision for the team to pass up such a sizable profit on a player who hasn’t shown he can compete in the Premier League.
If Minteh makes a mistake, time will tell, but if Everton keeps struggling at the bottom of the table, we doubt we’ll see much greatness from him while he’s there.
Read more on;https://sportupdates.co.uk
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