Richarlison, a Brazilian forward, has now completed a transfer deal to Tottenham from Everton, continuing Antonio Conte’s spending spree throughout the summer transfer window.
The contentious transfer of Richarlison to Tottenham is now complete.
The Brazilian international has reached an agreement on a five-year contract with the London club following tense and reportedly contentious negotiations with Everton over a fee that might reach £60 million.
Richarlison is scheduled to have a medical in Brazil in the upcoming days to complete the transfer.
Following the forward’s medical, an announcement is anticipated later this afternoon to finalize the deal. The two teams reached a consensus after days of negotiations.
The Premier League, which effectively set a deadline of June 30 for Everton to meet its profit and sustainability standards regarding permissible debt over a three-year period, has already confirmed the agreement.
With a further £10 million in add-ons, Spurs will pay an initial £50 million.
Despite not being thrilled with the entire £60 million package, Everton were forced to accept it in order to meet the deadline of June 30 and give Frank Lampard some wiggle room in the transfer market.
When it came to balancing their accounts for the current fiscal year, which ends today, the Goodison club needed at least £50 million.
Realistically, selling one of their top players was the only way they could quickly raise money for the team.
This explains why they reached an agreement so early in the transfer window, which has infuriated a large portion of the Blues fan base.
According to reports, negotiations were tight and earlier offers were reportly undercut as the deadline drew near.
The club’s options were limited due to its financial limitations, but it is believed that a deal was negotiated that may increase the deal’s value to £60 million with attainable add-ons.
Everton will now be hoping that the agreement will pass Premier League scrutiny and enable them to abide by the profit and sustainability rules.
Everton and Burnley, two teams that were recently relegated, were among the clubs that questioned the amount of leeway Everton had received in the governing body’s debt analysis during the previous 18 months, prompting calls for sanctions to be put into place.
Any punishments for exceeding the maximum debt limits in the previous three years are likely to include a transfer restriction and a ban on renewing the contracts of any players already signed to the club.
Everton was also aware that if a rule violation was deemed severe enough, a points penalty may result in even harsher punishment.
The Blues rejected Tottenham’s request to include Richarlison and Anthony Gordon in a package deal, as well as any further suggestions to include Spurs players.
The possibility that Everton would return during the current transfer window to try to sign players like Harry Winks or Steven Bergwijn, in whom manager Frank Lampard has expressed interest, is raised by this, though.
After June 30, Everton can freely sign new players as long as they can balance the books with new revenue sources or player sales because of the way debts are assessed.