Wolves receive £23m loan secured against funds due from Diogo Jota's sale to Liverpool
Wolves are getting a cash injection of £23million by taking a loan secured against transfer funds due from the sale of Diogo Jota to Liverpool.
The forward left Wolves in September last year for a deal worth around £40million, rising to £45million with add-ons.
The club received part of the fee up front with the rest of the funds coming in instalments and marked an impressive profit for a player they paid £13million for in June 2018.
Now, documents filed at Companies House show Wolves have taken an advance on the cash from Australian financial services giant Macquarie Group.
The bank have paid Wolves the remaining figure that Liverpool owe – which stands at around £23million – and when future instalments arrive from Anfield, due in July 2022 and July 2023, that cash will then be repaid to the bank.
It is not uncommon for football clubs to take out loans against future income to aid cashflow.
The move, however, is not understood to be part of an effort by Wolves to build up a January transfer window war chest.
Wolves have worked with Macquarie before and in 2019 took out a £50million loan secured against future television revenue.
That loan helped towards the costs of running the club in the midst of the Covid-19 pandemic at a time when Wolves were waiting on the instalments of their Premier League television payments – totalling around £130million – which is paid out over the course of the following year.
