Wolves missed Keane sell on clause
Former managing director John Richards has revealed Wolves turned down the chance of a sell-on clause for £20m Liverpool signing Robbie Keane.
Former managing director John Richards has revealed Wolves turned down the chance of a sell-on clause for £20m Liverpool signing Robbie Keane.
The legendary Molineux goalscorer, who was MD at the time of Keane's £6m sale in 1999, admitted Wolves could have taken less money up front and had percentage of a future sale.
Richards added one Wolves director wanted to take half the amount Keane was sold for, but the former striker was pleased the best possible deal was secured.
He said: "At the time, we had to sell to invest in players so Robbie Keane was the most saleable asset.
"I know one of the directors would have let him go for half the price. We felt that because Kieron Dyer had been sold for £6m around the same time, then that should be the valuation.
"We could have taken £5.5m from Villa plus a 10 per cent sell-on, but we were holding out for the market value. Coventry came in and met the valuation.
"The offer was good and it was all cash and up front, not part of the money now and part of the money later, based on appearance-related add-ons.
"From the club's point of view, it was the best offer."
Keane has been sold for total fees of £60m but Richards confirmed the sell-on only applies to the next transfer.
He said: "Sell-ons only apply to the first move anyway. Even then it would have only been 10 per cent of the difference. For example he went to Inter for £12m minus the £6m we got, so 10 per cent of that is £600,000."