Its defo not good for us as effectively we pay £100mil extra in return for his services for a season.
That is not the choice in play at all.
We will not get 100million for him if we were to sell him today. After all, any team that wants him can get him the next year for free, and he would be leaving because his wage demands were too high for our wage structure, meaning that he's going to cost a ton on both ends and have zero resale.
But, whatever, lets say he could be bought for 50 million, and would be paid 350k a week, or 18million a year. I'm pulling these numbers out my ass but I think they are realistic. That's about 140 million over 5 years or 28 million a year. Someone may want him at that cost, but I don't see it working out for them.
Let's say we renew his contract. We'd probably be asking for 3 year extension, him for 5? Let's say its 4 years at the same 350k a week. Some numbers quoted have been much higher. That's an extra 21 million in wages, and the opportunity cost of 50 million, since we are assuming he could be sold for that. If your 100 million is in play, then it's even more stupid to renew his contract. There's no doubt that he's a depreciating asset. His value will never increase.
That's 70 million we don't have in our pocket over the deal. 17 million a year. And at the tail end of those years, its entirely possible that he requires replacement and is still on that wage. We will need to replace various members of our squad during that time, however they are still very effective players at the moment, even if they are peaked and possibly declining. In that scenario, I see the sense in getting the one extra year at a discounted rate, over tying yourself into a higher rate. I think we could have our arm twisted if someone thought he was so unbelievably valuable as that they'd meet his wage demands AND transfer fee AND were a club he'd want to go to. But I don't think anyone is, for the same reason we've held strong on renewal. We have a grip on his actual value.