Jarvis finances revealed in full
After lengthy negotiations for the switch from Wolves Matt Jarvis finally joined the Iron on August 23, 2012.
Now ClaretandHugh can reveal exclusively for the first time the precise details of the deal which comprised an initial £7.5 million, rising to £10.75 million.
His five year contract was worth around £40,000 per week netting him a cool £10.4m over the five year period.
The Hammers have paid £10.2m of that (excluding agent fees) of the potential £10.75m transfer fee.
Our most senior source told us: “He cost us £10.2m in total. Not a great purchase by Sam from his agent Mark Curtis.
The fee was £7.5m, plus a £1m bonus on the first two occasions we stayed up, £1m on appearances-with about £700k paid out plus 5 per cent to the league when you buy a player, plus an agents fee of £750k.”
He scored just 6 goals in all competitions at a cost of £2.8m per goal and made 90 appearances at a cost of £188,888 per match.
That said, his departure will save a further £2m in wages in his final year of his contract releasing pressure on the financial fair play wage cap and we have already saved a further £2m by sending him out to loan to Norwich this season.
A £2.5m price tag is probably the best deal we could do in the current market but it still leaves a net loss of £8.5m on his transfer fee.