The potential sale of Jota to Al-Ittihad is turning heads and could set a record for a transfer fee received by Celtic. Benfica, the Portuguese winger’s previous club, has a sell-on clause that will entitle them to a portion of the transfer fee or profit from the sale.
The details of this clause are not entirely clear, but either way, Celtic stands to make a profit [Phil Mac Giolla Bháin]
Phil Mac reports the deal is priced in US Dollars, with a fee of $37m, alongside add-ons of $7.5m and a further sell-on when Jota moves from Al-Ittihad. The total potential transfer fee could be about £29m, with add-ons around £5.9m, making it a record-breaking deal for Celtic.
Celtic had made efforts to retain Jota, offering him a new contract that would have placed him among the top earners at the club.
However, the financial package proposed by Al-Ittihad far outstrips Celtic’s offer, amounting to roughly four times what the Scottish champions could provide.
Additionally, the Saudi club’s offer comes with the benefit of being tax-free, an aspect of the burgeoning trend of Saudi sports investment that is having significant impacts on player transfers globally.
The deal is still in progress and has not yet been finalised. Celtic fans are keenly watching developments, as the outcome could have significant implications for the the club’s finances and future transfer activity. The money could be used to make a statement signing by Brendan Rodgers.