Toon Settle Gutierrez Fee

29 April 2009 10:09
Newcastle are to pay Real Mallorca £5.2million for Jonas Gutierrez after reaching an agreement with the Spanish club.[LNB]The Argentinian joined the Magpies last summer after using FIFA's controversial Article 17 in order to complete the deal.[LNB]That ruling enables any player between the age of 23 and 28 to buy out their contract if they have been at the same club for three years or more.[LNB]Mallorca always claimed they were entitled to some compensation and had been looking for £12million.[LNB]The matter has dragged on for some time but it has now been resolved to Mallorca's satisfaction, with the Islanders confirming the settlement on their official website.[LNB]Mallorca will receive 20 per cent of any future sale and are set to give half of their £5.2million fee to Gutierrez's former club Velez Sarsfield.[LNB]"Gutierrez gave a lot for us and we gave a lot for him," said Mallorca sporting director Nando Pons.[LNB]"I think this is an agreement that is good for all parties."[LNB]

Source: Eurosport