Sunderland hit with six-figure penalty over player purchase - and it could still increase
Sunderland have been ordered to shell-out a sum of over €300,000 for Ricky Alvarez – over five years after the Argentine joined the club.
Alvarez made the move to the Stadium of Light in 2014, initially on a loan deal from Inter Milan.
But having staved off the threat of relegation from the Premier League during Alvarez’s season-long stint on Wearside, Sunderland were obliged to make the deal permanent for a fee of €10.5m.
The Black Cats tried to back away from that agreement – citing that the Italian side would not allow Alvarez to be treated for an injury – but were later ordered to pay the substantial fee after losing hearings with the Court of Arbitration for Sport and FIFA.
And now the club will have to pay-out another sum – this time of €362,500 – for the 31-year-old.
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That fee will go direct to his former club, Velez Sarsfield, who were due a solidarity payment from the Black Cats having helped develop Alvarez.
And FIFA ruled in March that Sunderland would have to pay the fee to the Argentine side – which equates to roughly £330,000.
A statement on Sarsfield’s website confirmed that the payment was made late last month.
And another hearing is scheduled to take place on August 27 at the Court of Arbitration for Sport, after Alvarez launched a bid to earn damages owing to a loss of earnings as the Black Cats and Inter Milan wrangled over his future.