Rasmus Hojlund is set to join Napoli after his permanent clause has been activated. Finance expert Stefan Borson explains why Man United are making a 'very big loss' on the deal.
the Premier League giants have sold the Denmark international for his book value. Hojlund will join Napoli permanently this summer after they secured Champions League qualification, triggering a clause in the agreement.
The Serie A giants paid a £5.2million loan fee for the 23-year-old, while they will now hand over a further £38m to seal his signature. Man United are looking to strengthen“They will come out of it broadly neutral from a PSR perspective,” said Borson.
“Obviously, there is a headline loss. If you look at what they paid versus what they’ll receive, it’s obviously a very big loss, but they’ve taken three years of amortisation.
“They’ll comfort themselves that they’ve not made a PSR or an SCR loss on paper because they’ve sold him for whatever his book value is, but it’s not the real world. ”Borson insisted Man United have come out of the deal for Hojlund better than the situation with Jadon Sancho, who is set to leave Old Trafford on a free transfer this summer.
“It’s still a very disappointing transfer, but it is mitigated by the fact that they got out of it,” said Borson. “There are worse-case scenarios like Sancho, where they get out of it not making a book loss because his book value is zero at the end of his contract, but it’s been a complete disaster. “If you were to add up the wages, offset by whatever they receive back on loan fees, it’s well over £100m for nothing.
There is almost no contribution at all, so you have to separate sort of an acceptable deal. #MUFC “But it doesn’t really mean Hojlund has been a successful sale. You’ve still invested that money. It’s not worked, the player is gone, and you’ve got very little out of it.
“They’ve done okay out of the deal and the player has done okay as well. It’s worked out okay. Nothing more, nothing less. He goes off with his career, the signing hasn’t worked, and they try somebody else. ”
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