Fenerbahçe Vice President Murat Salar has explained why the club walked away from a deal for Ademola Lookman in January, saying Atalanta’s demand for a bank guarantee crossed a line the Turkish side would not accept, Footynaija.com reports.
Fenerbahçe had agreed a €35 million fee with Atalanta, plus €5 million in add-ons, and settled personal terms with Lookman on €8 million a year. The 28-year-old winger was close to joining before the move broke down.
Atalanta asked for a letter of guarantee from a Turkish bank to secure the payment. Atlético Madrid stepped in and closed the deal for the same €35 million, handing Lookman a four-and-a-half-year contract.
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The Super Eagles star scored and set up another in a 5-0 Copa del Rey win over Real Betis on his debut, his goal coming in the 37th minute and bringing up his 100th across club and country in 376 games over 11 years.
Salar calls guarantee demand ‘an insult‘
Salar, who handles finances under president Sadettin Saran, spoke publicly about the collapse on Wednesday.
“Atalanta requested a letter of guarantee,” he said via a report by Turkiyetoday. “Fenerbahçe Club has never given or received a letter of guarantee in its history. We considered this an insult.”
The club had just cleared its debt with the Turkish Banks Association in January, paying off €69 million to exit the restructuring deal early. Salar said the principle mattered more than the player.
“Which bank’s reputation is more valuable than that of 120-year-old Fenerbahçe Sports Club?” he said. “If you give a letter of guarantee to one club, it will be required for all future transfers. We did not allow Fenerbahçe’s future to be mortgaged.”
He pointed out that deals with Manchester United, Paris Saint-Germain and Lazio had all gone through without such terms.
“It is unacceptable for another Italian club to request a letter of guarantee when Manchester, PSG, and Lazio don’t,” Salar said. “We create a barrier not only for Fenerbahçe but for all Turkish teams.”
The request was never up for discussion, according to Salar.
“We believe that Fenerbahçe’s reputation is higher than that of banks,” he said. “In response to this disrespect, we abandoned the transfer.”
Diego Simeone spoke to Lookman over video during the negotiations. The Nigeria international turned down a bigger money offer to join Atlético and work under the Argentine coach in Spain.
