Football finance expert Kieran Maguire has been speaking on the latest edition of The Price of Football podcast about all of the latest financial stories from the world of football.
One of the topics that he spent a bit of time on was Sheffield Wednesday’s accounts from the 2018/19 season.
The accounts showed a mystery payment of around £6.5m, which has led to some speculation that the payment was from Newcastle United as compensation for taking Steve Bruce, Steve Agnew, and Stephen Clemence to Tyneside.
However, Newcastle are denying that is the case.
This led Maguire to provide his view on the situation.
He said: “The good news for Sheffield Wednesday appears to be a mysterious receipt of £6.5m, which was something to do with a confidential settlement and the finger is pointing towards their biggest ever sale of a 59-year-old centre-half called Steve Bruce.
“So nobody’s confirming what the money is for, but of course, Steve Bruce resigned from Sheffield Wednesday in July 2019 and ended up at Newcastle and Sheffield Wednesday were very unhappy, he was contracted to them, so therefore, they demanded compensation.
“So if this money is for Steve Bruce and apparently the two other Steves as well, who are part of his coaching staff, and it is this £6.5m, it’s a phenomenal sum.
“Newcastle are pushing back on the story, but nobody can work out what else it could possibly be.”
TIF Thoughts on this fee Sheffield Wednesday received…
Considering the Owls were demanding compensation from the Toon for Bruce and his staff, it would make sense if this fee was from them.
Maguire makes a good point that although Newcastle are denying it, what else could that fee possibly be?
We may never find out, but if the fee was from Newcastle, that is pretty staggering considering where Bruce has Newcastle this season and considering his average record with the Owls in his time at Hillsborough.