Manchester United will get a lump sum payment of €16.1 million for David Beckham's transfer to Real Madrid instead of receiving the money in instalments, the premier league club confirmed today.
The English champions said they had agreed with the Spanish title holders to vary the terms of the original deal, under which United were to receive €17.5 million for the 28-year-old midfielder in four equal annual payments by July 2007.
United said the reduction in the payment, to be made later on Wednesday, merely reflected the time value of money. Further payments totalling €10 million remained conditional on Real's performances in the Champions League, the club said.
Under the terms of the deal €1.25 million would be paid over each of the next four seasons if Real qualified for the Champions League, with a further €1.25 million each season if they reached the quarter-finals of Europe's top club competition over the same period.
England skipper Beckham joined Real in July and scored within three minutes of his league debut for the Spanish side, as they beat Real Betis 2-1 on Saturday.