Hull City set for timely £9.5m windfall from Harry Maguire move to Manchester United

The 26-year-old has signed a six-year contract at Old Trafford after joining from Leicester City for an £80m fee.

Maguire left the KCOM Stadium following relegation two years ago for £17m, the two clubs agreeing City would be entitled to a 15 per cent cut of any future profit made by the Foxes.

Following a transfer that sees Maguire displace Virgil Van Dijk as the world’s most expensive defender, Sheffield United are also in line for a cash bonus thanks to their own sell-on clause dating back to his 2014 switch to East Yorkshire. The Premier League new boys will receive a little under £1m.

This will mean Hull clearing around £8.5m but the Championship club may have to wait for their first instalment.

Much will depend on the payment structure Leicester have struck with United.

If, for instance, the fee is spread across four years with a payment of £20m each time then City’s first payment will be just 15 per cent of £3m – the amount the Foxes will have made in profit on Maguire at the time.

The Tigers are still waiting to hear the details of the payment plan from Leicester.

But, regardless, the boost to the balance sheet is welcome for a club who lost their Premier League parachute payments this summer.

Sources have told The Yorkshire Post that the Tigers are heading for a £15m loss in the coming financial year.

Markus Henriksen, the subject of interest from several clubs abroad, is expected to leave before Thursday’s deadline and this should shave around £3m off that deficit.

Jarrod Bowen and Kamil Grosicki are City’s other two bankable assets but, as it stands, both look set to stay to lead Grant McCann’s side through the first half of the campaign.

The Maguire transfer is the second time in as many months that a Manchester United purchase has worked in City’s favour. The Championship club is understood to have banked around £900,000 from the £15m deal that took Daniel James to Old Trafford from Swansea City. James had left Hull forSouth Wales as a schoolboy.

Maguire, who joined the Tigers on the same day as Andrew Robertson, was already the East Riding club’s record sale. City’s total income from the England international’s departure now stands at £26.45m.