THE CONCRETE ROUNDABOUT (TCR)

He absolutely changed the game for Everton tonight

Pretty sure I heard it was only 18% of any profit Spurs make on the £5m they paid us upfront. So if they get 25% of £20m they'd get £5m and wouldn't make any profit so we wouldn't get anything

Still, too many ifs and buts at this point and there's still a good chance he'll stay at Everton and get to 20 appearances.

I find it very hard to believe that Levy would let him leave for free and only set a 25% sell-on fee. He is a very astute guy and must have foreseen the biggest risk of the transfer structure from a Spurs perspective was Everton selling him on before 20 appearances and any money was due. I wouldn't be surprised if the sell-on fee was closer to 90% than 25%!

Now just 8 appearances until we receive £0 from Tottenham's £10m windfall.

We’ll see. It does currently look as though he’s a part of Lampard’s plans and you would hope they’ve earmarked that £20M fee for him.

If paid, then there’s no legal reason not for us to get our 18% of the profit(whatever folk may think about how Daniel Levy may try to weasel out of it).

However, that profit is not quite the full £15M for Spurs. They probably paid us at least another £1M on appearances, goals and England caps. So, let’s say it’s £14M profit, that would represent £2.5M to us on that 18%. Pretty healthy, but would be paid over the term of his new Everton deal rather than as a lump sum, I’m sure.

So once Everton owe Spurs £10mil, we should receive £720k? (18% of the 4mil profit)

I believe so (assuming that £1mil is accurate). And then in the future when Everton pay another £10mil, all of that is profit so we'd get another £1.8mil.
That'd mean a total income from Dele of just over £8.5mil. Not bad

It sounds like Besiktas has an option to buy Dele for €7m. If true, we basically get nothing if Spurs still has a 25% sell on fee.
Also, seems a bit silly for Levy to let a deal like that happen. They essentially given Dele away for €1.75m

Levy is one of the tightest, most savvy chairmen going so I find it hard to imagine he wouldn't have considered the scenario where Everton move Dele on before 20 apps. I am sure Spurs are due a large chunk of whatever Besiktas pay.

Yes I'm with you there. But even if they got 100% of the fee from Besiktas, that still means €7m and far less than the £10m due after he played the first 20 games for Everton. That fee could have been as much as £40m if he played enough games.