Leicester City get £26m boost in fresh deal over James Maddison’s Tottenham transfer

City were not supposed to receive the monies until next year and the summer after, but they have done the same arrangement they did with the signings of Riyad Mahrez and Wesley Fofana.

James Maddison has been a fine start to his Tottenham career since joining the club from Leicester City 

Leicester City have chosen to collect the £26.7 million owed to them by Tottenham for the acquisition of James Maddison.

City elected to receive the funds now rather than wait for Spurs’ two final installments, which are due next summer and the summer following.

Spurs paid £40 million for attacking midfielder James Maddison this summer, a purchase that many commentators are already calling a steal after his strong start to the Premier League season. City received a third of the money, £13.3m, up front, but the other two instalments of the same amount are not due until July 31, 2024, and on the same day in 2025.

City will now receive the remaining £26.7 million, while Spurs’ payments will be made to Macquarie. However, Norwich’s share of the fee remains secure, and they will still earn the £1.6m owed to them for the sell-on fee stipulated in Maddison’s contract.

This is not the first time City has worked with Macquarie, having done so for Riyad Mahrez’s £60 million transfer to Manchester City in 2018 and Wesley Fofana’s £75 million move to Chelsea last summer. They’ve also taken out bank loans in the past, which were guaranteed by future Premier League payouts.

In addition to Maddison, City sold Harvey Barnes, George Hirst, and Timothy Castagne this summer for a total of about £95 million. They spent roughly £37 million for Conor Coady, Harry Winks, Mads Hermansen, Stephy Mavididi, and Tom Cannon.