A deal has been agreed by Leicester City to sell Jermaine Beckford to Bolton – after months of negotiations.
The protracted deal had taken so long as City strived over every detail to get as much as possible for their £3million signing.
The 29-year-old will go to City's Championship rivals for a "small fee" up front with that figure rising substantially. The total will depend on the number of appearances, the goals Beckford scores and whether Bolton get promotion.
Beckford was unveiled as a Bolton player late yesterday, more than two months after the deal was first mooted.
Trotters boss Dougie Freedman said he was delighted to finally get his man, although admitted City drove a hard bargain.
He said: "We have worked very hard to make this happen and to be fair to Leicester, they have also stuck to their guns and made sure they got the best deal for them. There is a very small fee involved up front but it's tied in with promotion and how many goals he scores – that's how Leicester will get their money. So if we benefit, then Leicester benefit and that's why it has taken a little bit longer.
"It was out in the media that we had done the deal but there was still a little thing about how we were going to pay the fee, in instalments or whatever, and we have come to a compromise."
City wanted to get Beckford, who did not fit in with manager Nigel Pearson's plans, and his wages off their books as they looked to cut costs to conform with Financial Fair Play regulations.
Ironically, it means City would benefit financially should Bolton, considered one of their rivals for promotion, be fired into contention by Beckford.
Meanwhile, Jack Hobbs confirmed City were interested in bringing him back to the King Power Stadium before he agreed to join Nottingham Forest on a season-long loan from Hull.
City expressed their interest in Hobbs earlier this summer but the strained relations between the two clubs over Nigel Pearson's return to City from the Tigers has made any deals difficult between the two.
"I was flattered by the interest of course, but I have chosen Forest and I am really excited," he said.
