United hope Beckham does well

MANCHESTER United have ten million reasons for hoping former star midfielder David Beckham brings sustained glory to his new club Real Madrid.

Yesterday, Manchester United disclosed they will get a lump sum payment of €16.1m for Beckham’s transfer instead of receiving €17.5m in instalments.

Crucially, further payments totalling €10m remain conditional on Real’s Champions League performances, the club said. United shares have already raced ahead by 73% this year.

Under the terms of the deal €1.25m would be paid over each of the next four seasons if Real qualified for the Champions League, with an extra €1.25m each season if they reached the quarter-finals of Europe’s top club competition over the same period.

Manchester United Finance Director Nick Humby said the club, expects to get a better return on the discounted amount by investing it immediately, rather than receiving €17.5m over four years. There may also be tax benefits, he indicated.