Last updated : 01 September 2004 By Editor
Manchester United have revealed how the payments to Everton for Wayne Rooney will be structured in a statement to the Stock Exchange.

Everton will receive a guaranteed £23m provided Wayne Rooney remains a Manchester United player until 30 June, 2007.

The Toffees could earn up to an extra £7m over and above the basic £20m transfer fee as United announced the breakdown of payments.

The additional money is payable if the following events happen over the next five years.

- £1m if United win the Champions League.

- £500,000 if United are runners-up in the Champions League.

- £500,000 if United win the Premiership.

- £250,000 if United finish second in the Premiership.

- £150,000 if United win the FA Cup.

- £1.5m if Rooney extends his contract with United.

- £500,000 if Rooney earns 20 England caps in competitive games while a United player.

- £500,000 if Rooney plays a further 20 times for England in competitive games while a United player.

Even if none of those things happen in the next five years the Toffees will receive at least an extra £3m, paid in £1m instalments on August 1 2006 and the same date in 2007 and 2008.

Everton have also negotiated a 25% 'sell-on' agreement, under which they would receive a quarter of any excess sum over all amounts paid in this agreement.

United’s own statement:

The financial aspects of the transfer are as follows:

Unconditional fee to Everton - £20.00m
5% Signing levy thereon - £1.00m
Fees to Proactive Sports Management Ltd - £1.00m
= £22.00m

Contingent payments to Everton £7.00m

5% Signing levy on contingent payments £0.35m
Contingent payments to Proactive Sports 0.50m

Total potential acquisition cost £29.85m

1. Payable £10m immediately and £10m on 1 August 2005.

2. Fees payable to Proactive Sports Management Limited in relation to both the acquisition of the player and negotiation of his personal terms. Of this sum, £1.0m is guaranteed, of which £0.5m is payable immediately and the balance over the following 5 years in equal instalments. The remaining £0.5m will be paid in 5 equal instalments over the duration of Rooney's contract provided he remains registered to MU at the due dates for payment.

3. Contingent payments of up to £7.0m payable on the occurrence of the following events during the next 5 years:
European Champions League - Winners - £1.0m, Runners Up - £0.5m
FAPL - Winners - £0.5m, Runners Up - £0.25m
FA Cup - Winners - £0.15m
Player signs an extension to his contract at MU - £1.5m
Player earns 20 England caps in competitive games whilst an MU player - £0.5m
Player earns a further 20 England caps in competitive games whilst an MU player - £0.5m
Even if these events do not occur, Everton will receive £3.0m provided Rooney remains registered to MU until 30th June 2007. This sum will be payable in equal instalments of £1.0m on 1st August 2006, 2007 and 2008 if not already paid via the above incentives.

4. If the player is transferred from MU then Everton will receive 25% of any excess sum over all amounts paid under this agreement.

The rumour that Rooney’s wage would be 60 grans per week has been scuppered and he will in fact be paid money, like everyone else.