Theo Walcott deal

I did know about this, has anyone read about this fee before?

Taken from the Guardian
No net profit as Walcott is set to cost Arsenal another £1m

Jeremy Wilson
Tuesday February 13, 2007
The Guardian

More than a year after paying an initial £5m for Theo Walcott, Arsenal are nearing their next instalment of a potential total £12m outlay. The 17-year-old forward is understood to be three games away from costing the Gunners another £1m.

The deal which took Walcott from Southampton contained a number of clauses, and it is believed that Arsenal must make payments of £1m for every 10 competitive matches which he starts up to a maximum of 50 - £5m - although Carling Cup matches are understood not to be included in the calculation. Five substitute appearances in other competitions count for one start, however, which takes Walcott to just over seven games.

The remaining £2m of what was a world-record fee for a 16-year-old will become due if and when Walcott plays 20 competitive matches for England. Swindon Town, the club who discovered him, received only £2,000 when he joined Southampton although they were paid a one-off five-figure fee - thought to be £50,000 - when he made his 10th appearance for Saints..

Walcott's decision to join Arsenal rather than Chelsea hinged largely on the prospect of playing alongside Thierry Henry and the captain took him to one side for a quiet talk before Sunday's match against Wigan. Henry later said it is important that supporters are patient and realistic about his team-mate's development as a player..

"One thing about Theo for all of us to remember is that he is only 17," Henry said. "I know it is not easy for you guys because he is a great prospect for England, but I do think people have to remember he is 17. It is not an easy time when you are 17 - trust me, I was there. I was struggling at 17. What we need to do is let him mature and get stronger."

Although Arsenal's goals on Sunday came after Walcott had been substituted, Henry also praised his contribution. "He [Walcott] had a great game - all of the opportunities we had in the first half were coming from Theo." He has yet to score for the Gunners himself.