According to the Daily Mail, Rangers paid Sheffield Wednesday £2.2 million for the sale of Djeidi Gassama.
Sheffield Wednesday were generally expected to lose some key players this summer due to financial concerns, and another departure was confirmed on Tuesday. SWFC has lost winger Djeidi Gassama, who has moved north of the border to join Rangers.
The French winger had been extensively linked with a move to Ibrox, and after it was believed that a hitch in the agreement had occurred, his move has now been made official.
Gassama was one of Hillsborough’s more valued, sellable assets, therefore the sum he has received may be disappointing.
According to the Daily Mail, Sheffield Wednesday earned £2.2 million for 21-year-old Gassama, who has signed a four-year contract.
SWFC makes no mention of any add-ons or a sell-on clause, but they will repay Gassama’s former club Paris Saint-Germain a percentage of the £2.2 million earned.
At the time of his Hillsborough move, PSG was rumored to have held a 20% sell-on clause. As a result, Wednesday must pay £440,000 to the French giants, with a net profit of £1.76 million.
Little profit earned from a sellable Sheffield Wednesday asset
It must be admitted that Sheffield Wednesday are not in a good negotiation position. They are said to have only recently settled July’s wages for players and non-playing staff, while uncertainty continues about overdue HMRC bills, Hillsborough renovations, and fees owing for earlier transfers. As a result, SWFC was not in a strong position to demand more during the Gassama negotiations.
However, they will be disappointed that they may have profited less than £1 million on someone who has proven to be a top talent in the Championship. Gassama has a higher ceiling than he has demonstrated early in his career, and he will be backed to make a future move for a cost well beyond the £2.2 million Rangers spent.
It was reported that Wednesday spent up to €1 million for Gassama, which is equivalent to £867,000. After accounting for PSG’s alleged sell-on, their profit would be only £893,000.
The Nervous Wait Sheffield
Wednesday fans have been encouraged by reports of an agreed-upon purchase deal with an American group, but few will believe the transaction is complete until new owners stand at Hillsborough with blue and white scarves aloft.
It has become abundantly evident that the only way out of this nightmare is for Chansiri to sell, but his past unwillingness to do so, along with the high asking price, has made things difficult.
It has not been a simple takeover to negotiate, given the financial blow the prospective owners will face in terms of debt and unpaid expenditure.
Nonetheless, it is hoped that a happy resolution would soon bring an end to this long drama.
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