Manchester City have completed the signing of Erling Haaland, one of the best young strikers in the world, for a knockdown price of £51 million.
City announced that they had “reached an agreement in principle” to sign Haaland from Borussia Dortmund, subject to agreeing personal terms with the 21-year-old.
It had been rumoured that the release clause in Haaland’s Dortmund contract stood at €75 million (£64.2 million) but The Times revealed that it is, in fact only €60 million, which works out at just over £51 million.
City will pay the fee in instalments, the first of which is worth between £30 million and £34 million. With agents’ fees and bonuses, the total cost of the deal to City comes to around £85.6 million.
Haaland has agreed a five-year contract worth around £400,000-a-week, which puts him on a par with the club’s top earner, Kevin De Bruyne.
Because of the release clause, City feel the deal represents excellent value. City sources stated that they believe the striker’s present market value to be around €200 million (£170 million).
The announcement brings to an end City’s year-long pursuit of a centre-forward to replace Sergio Agüero, who left for Barcelona on a free transfer after last season’s Champions League final defeat to Chelsea.
A surprise figure was heavily involved in arranging Haaland’s secret medical in Brussels on Monday: Manchester City legend Vincent Kompany.
Now the coach of Anderlecht in Belgium, the legendary City defender is said to have been heavily involved in the logistics of arranging Haaland’s trip to the Erasmus Hospital, where he was met by City’s medical staff.
Kompany played for City for 11 years between 2008 and 2019, before becoming player-coach at Anderlecht, eventually hanging up his boots to take up a permanent role in the dugout.
Despite leaving the Etihad, it appears he still has his former club’s best interests at heart, lending a hand to get the Haaland deal over the line.