By 90Min
October 24, 2019

Crystal Palace have received a £22.5m boost in a deal with an Australian bank following Aaron Wan-Bissaka's departure to Manchester United last summer.

The 21-year-old right-back signed for Manchester United in the summer of 2019 for a fee totalling £50m, with Palace set to receive the money in instalments.

The Eagles have been paid some money up front by the Red Devils, with another £22.5m due to be paid on the July 1 2020.

Sebastian Frej/MB Media/GettyImages

However, according to the Evening Standard, Palace have engineered a deal with Australian bank Macquarie, which will see the London club loaned the £22.5m now, with the instalment due in July 2020 being paid directly to Macquarie. 

It is thought that the money will be used to help fund chairman Steve Parish's three-year plan, which includes a £100m redevelopment of Selhurst Park. The 26,000-seater stadium has been home to Palace since 1924 and the capacity is set to be increased to more than 34,000 within the next three years.

Palace are currently co-owned by American Wall Street financiers, Josh Harris and David Blitzer, who own 18% of shares in the south London club. However, with the pair keen to sell their shares in the club and further investment required for the stadium rebuild, the three-year plan will likely soak up most of the money from the deal with Macquarie. 

The practice of being loaned money up front from an instalment, or transfer fee factoring, is not unusual. Bournemouth, Leicester and Watford have all been known to have used the bank in securing money owed from an instalment. 

Leicester used the bank when attempting to acquire some of the money due from the Riyad Mahrez transfer to Manchester City for £60m, it is believed, in order to redevelop their Belvoir Drive training ground.

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Bournemouth had the same idea, as they secured loans against instalments owed for deals involving Lys Mousset to Sheffield United and Tyrone Mings, who joined Aston Villa in the summer.

Crystal Palace, however, are in dire need of reinforcements up front having scored only eight goals so far in the 2019/20 league campaign and have recently been linked with Inter striker Gabigol. Meanwhile, Joel Ward remains Palace's only senior right-back following Wan-Bissaka's departure. 

Crystal Palace travel to the Emirates Stadium on Sunday as they look to take advantage of an Arsenal side who have struggled in the Premier League in recent weeks. 

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