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Some clubs can’t hide their transfer business and the financial details within purchases and sales. That’s because they are forced to release financial records to regulatory bodies.

It’s different from country to country for football clubs who also happen to be listed on financial exchanges, and in Portugal it involves a lot of detail being shared and that includes agent payments, clauses, and what is paid when.

For the transfer of João Carvalho to Nottingham Forest, in their Saturday edition Record have an article detailing the situation.

The Championship club paid €15m for the player, but Benfica themselves are only receiving €12.6m with the remaining €2.5m being costs involved in the transfer transaction.

Jorge Mendes’ agency Gestifute take €1.5m of the deal, which they’ll believe is fair because the transfer wouldn’t have happened without them.

Nottingham Forest must pay Benfica 25% of any future transfer profit. That means 25% of everything over €15m.