Home Scam/Fraud Burnley withdraw £12.5million loan to cover Chris Wood Newcastle United transfer amid...

Burnley withdraw £12.5million loan to cover Chris Wood Newcastle United transfer amid financial uncertainty

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Burnley have received a £12.5million loan from Australian broker Macquarie Bank to cover half of Chris Wood’s transfer fee, as reported by our sister title LancsLive. Newcastle United activated a £25million release clause to lure the striker to St James’ Park in January.

However, half of the fee is not expected until February next year and the Clarets have opted to take the money now – despite having to pay interest. Spreading out transfer fees over instalments is common practice in football and this news should be of no concern for Toon supporters. The only difference from the Magpies’ end is the Wood payment will now be paid to Macquarie Bank rather than Burnley.

The Clarets’ decision to grab fast cash fires an ominous warning to their fans should they be relegated from the Premier League. Financial uncertainty has plagued Turf Moor in recent weeks after reports emerged that a £65million loan until 2025 will be recalled…

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