Details on José Antonio Reyes’ contract extension, which was signed and made official on 1 October, were released today in a report by MARCA.
The new deal, originally thought to be for three more years through 2014, was renegotiated to two years expiring in 2013.
In addition to the reduction in length, Reyes’ release clause drops to €20m, a 50 percent drop from his previous deal which required a €40m rescission fee.
La Perla will also take a 20 percent pay-cut: his earnings have been reduced from €2.5m to €2m per year.
The 27-year old’s agreement contains several incentives clauses that could bring his pay back up to the level of his former wages.
These incentives are based on such factors as games played, goals scored, international caps and titles won.
The new €20m release clause will likely not bring many smiles to the Colchonero faithful. The amount seems troublingly accessible to major clubs throughout Europe who most certainly would be open to employing the services of our star flank-man.