Crystal Palace have reached agreement on transfer fee – Process moving quickly now

Crystal Palace have struck an agreement with Real Betis to sign defender Chadi Riad, and a deal could be wrapped up this week.

That’s according to Mundo Deportivo, who report that Crystal Palace ‘already have an agreement’ in place on a €15m deal plus €2m in variables for the defender.

The player, for his part, has already given his approval to the transfer after striking an agreement over personal terms earlier today.

Thus, the transfer process is now underway, with Betis first set to sign the player on a permanent basis from Barcelona, taking up their option to do so as part of the agreement they struck in his initial loan deal last year.

They will then sell Riad to Crystal Palace for the aforementioned €15m, before then being obliged to give 50% of the profit they’ve made on the player back to Barcelona. That will be €6m plus €1m in variables.

Betis have agreed to the transfer with Crystal Palace as they faced the prospect of Barcelona buying him back for €7m next year even if they had bought him this summer as planned.

Instead, they’ve ensured a better deal for themselves with the Eagles, who are wasting no time in strengthening Oliver Glasner’s squad.