Sunderland pay Velez Sarsfield €362,500 over Ricky Alvarez deal

Sunderland pay Velez Sarsfield €362,500 over Ricky Alvarez deal

Sunderland have paid out €362,500 to Velez Sarsfield to settle their claim over Ricky Alvarez following a lengthy legal wrangle, the Argentinian club have announced.

The Black Cats have handed over the payment under the FIFA solidarity mechanism, which compensates clubs who have helped to develop players, as part of their ill-fated move for the winger in 2014.

A statement on the club’s official website said: “After an arduous negotiation without results, Velez raised a claim before FIFA on 03/25/2019, obtaining the collection of its percentage under the solidarity mechanism of the amount that Sunderland were forced to pay Inter Milan for the value of the transfer.

“Thus, our institution obtained the sum of 362,500 Euros, a product of the efforts made by the legal team and the claim filed to FIFA.”

Alvarez arrived at the Stadium of Light on an initial loan deal from Inter Milan in August 2014, but made only 17 appearances as a knee injury limited his involvement.

Sunderland wanted the player to undergo surgery, but Inter stalled and the English club then attempted to pull out of a mandatory agreement to make the transfer permanent after they secured their Premier League status.

The ensuing legal battle, which involved FIFA and Court of Arbitration for Sport hearings, resulted in defeat for the Black Cats, who were then lumbered with a €10.5m bill for a player who was no longer on their books.

Argentina international Alvarez joined Italian club Sampdoria in January 2016.

- Press Association

More on this topic

Two to be sentenced for Emiliano Sala mortuary footageTwo to be sentenced for Emiliano Sala mortuary footage

Clinical City make no mistake in UkraineClinical City make no mistake in Ukraine

Rio Ferdinand pens touching message about his childrenRio Ferdinand pens touching message about his children

Lindelof extends stay at Manchester UnitedLindelof extends stay at Manchester United


More in this Section

The Daily Donal: Japanese hand a warning to SchmidtThe Daily Donal: Japanese hand a warning to Schmidt

Villa boss Smith excited about another ‘chess match’ with Gunners boss EmeryVilla boss Smith excited about another ‘chess match’ with Gunners boss Emery

Rugby World Cup Newsletter Day 2 - Heavyweight clash dominates Day 2 of Rugby World CupRugby World Cup Newsletter Day 2 - Heavyweight clash dominates Day 2 of Rugby World Cup

Midfielder Mount may make match against LiverpoolMidfielder Mount may make match against Liverpool


Lifestyle

Against popular wisdom and flying a plane made from bamboo, wire and bike handlebars, a Co Antrim woman blazed a sky trail for aviation and for the independence of women, writes Bette BrowneMagnificent Lilian Bland blazed a trail for independence of women in her plane of bamboo

The epic battle for the bridge at Arnhem, as depicted in the blockbuster 'A Bridge Too Far', saw the Allies aim to end the war by Christmas 1944, but failed as a huge airborne assault force failed to take the last bridge across the Rhine. In an extract from his latest book 'A Bloody Week', Dan Harvey tells the story of one of the hundreds of brave men from Ireland who gave their all to the Allied campaignThe bridge to war: Dan Harvey's new book looks at the Irish who went a bridge too far

More From The Irish Examiner