According to the Italian specialized financial sports media "Calcio e Finanza", Tonali is about to become Tottenham Hotspur's new player, and this transfer will also become the most expensive transfer in the history of Italian players. Milan will receive a total of approximately 9.66 million euros from this Tonali transfer.

The total price of this deal is 116 million euros, of which Newcastle United will receive approximately 108 million euros in fixed transfer fees, plus several floating bonuses that will be triggered in the coming years based on conditions.

This deal also benefits Milan. The Rossoneri sold Tonali to Newcastle United after the 2022/23 season, and it is understood that they retained a clause at the time: if Newcastle United sells Tonali in the future, Milan will receive 10% of the transfer appreciation (capital gains).

Now, this clause has officially come into effect. So, how much capital gains will Newcastle United get from selling Tonali this time? And how much will Milan receive?

According to Calcio e Finanza's data, as of June 30, 2025, Tonali's historical cost on Newcastle United's books was 60.8 million euros.

Based on this data, and considering Tonali's contract extension in 2025 (contract extended from the original expiry in 2028 to 2029), his book value remaining as of June 30, 2026, is approximately 27.57 million euros. Based on a fixed transfer fee of 108 million euros, Newcastle United is expected to gain approximately 80.43 million euros in capital gains from this sale of Tonali.

Milan's 10% share is calculated based on these capital gains. Based on 80.43 million euros, Milan can receive approximately 8.04 million euros.

In addition, Milan will also receive income from the FIFA solidarity mechanism. This mechanism is used to reward clubs that have participated in the youth training of players, and Milan is expected to receive approximately 1.62 million euros.

Therefore, Milan will receive a total of approximately 9.66 million euros from this Tonali transfer.

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