Tottenham saved from paying huge Gareth Bale windfall to Southampton by chairman Daniel Levy
Laughing all the way to the bank: Daniel Levy, right, with FA chairman David Bernstein (Picture: Getty)Daniel Levy has saved Tottenham a fortune after a shrewd piece of business prevented Southampton from enjoying a financial windfall from Gareth Bale’s potential £100million move to Real Madrid.
Spurs bought Gareth Bale for £5m six years ago shortly before his 18th birthday, with a similar amount included in add-on clauses.
Despite suggestions to the contrary on the south coast, a sell-on fee of 25 per cent was also included.
MORE: Tottenham stars urge Bale to stay
Bale fail: Southampton may miss out on up to £20m if Bale goes to Madrid (Picture: PA)MORE: Tottenham could swoop for Suarez if Bale goes
But when Southampton suffered financial meltdown, Spurs chairman Levy struck a bargain deal with Rupert Lowe, who was Saints chairman at the time, to buy out both the add-on fees and sell-on clause.
In effect, the canny negotiating skills have saved Spurs, and cost Southampton, around £25m, based on a £100m fee, or £21.25m based on Real’s most recent offer of £85m.
However, Fifa rules mean the Hampshire outfit could still receive a payout of up to £5m for their part in educating and training Cardiff-born Bale as a youngster.
MORE: Hoddle urges Bale to stay
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