On loan Arsenal teen prospect Kelechi Nwakali completed his move to Arsenal in the summer, with various publications differing on the amount paid to Diamond Football Academy as transfer fee for the MVP of the 2015 U-17 World Cup.
However per a document in the possession of Owngoalnigeria.com dated 21st December 2015 and addressed to one Mr. Martin Apugo, President of Diamond International Football Academy, the true worth of his transfer fee can now be revealed.
The document signed by Richard Law, Arsenal Football Club Football Operations Head contained the true worth of his initial transfer fee, and other clauses which could see the fee rise further.
As it is the case with various deals, the payments for his transfer will be staggered, with further payments tied to the 18 year old,who is out on loan fulfilling some clauses.
The total worth of his transfer fee is £2.5 million, with 10% of the fee already paid by Arsenal after 15 working days as well as the balance which was paid upon the issuance of his International Transfer Certificate (ITC).
Furthermore Diamond Academy could earn in Contingent Transfer Payments, a further £2 million based on three clauses which will be listed below as contained in his contract.
1. Nigerian Senior National Team: £500,000
A key element of achieving a UK work permit will be qualifying by appearing in 75% of the Nigerian Senior Team matches in one calendar year (criteria defined by the Home Office and the FA). When the player achieves this playing objective, Arsenal will pay the Academy £500,000. The maximum payable is £500,000.
2. Arsenal FC Starting Eleven: £500,000
Arsenal will pay 20,000 for every start in the Premier League or Champions League. The balance due will be paid in groups of ten starts. The total payable per player is £500,000.
3. Future Transfer Credit: Up to a maximum of £1 million
In the event that a player is transferred to another club while registered to Arsenal, Arsenal will pay 10% of the transfer fee above £20 million up to a maximum of £1 million.