That 20 mil figure is strictly the savings in JC's wages. That doesn't take into account Handy's transfer fee, nor the severance pay we gave to JC. It sounds like it might factor in Handy's wages, but the math doesn't really seem to add up.
While I was not a fan of throwing out a loyal Interista like Julione, but financial I have to agree that this move does make sense. If you take a 2 year window, we possible are just about breaking even, but in a 5 year window we are saving money here.
Julio had 7 great years at Inter, and everyone will agree that the last one was not upto his high standards. In two years he would be nearly 35 and time for Inter to splash on a new GK.
So over 5 years it would cost us
- ~19m in Julio's wages (Gross)
- 11m in signing fee for a replacement(Assuming financial conditions don't change)
- 12m in wages for replacement
Or about 41m Euros to cover for that position.
Now what are we spending
- 11m in signing fee
- 20 m in wages
- 3-4 million of severance pay for Julione. From the sources I read, he is being paid a wage of around 65k GBP per week or about 1.9m GBP Nett per year or about 2.6m Euros per year net for 4 years. The difference in wages between what he makes now and what he made at Inter is not more than 3-4m Euros over 2 years. I doubt we would have paid the whole amount, as JC has to worry about his playing time and his place in 2014 WC Squad.
So without JC we are spending less than 35m Euros, or a saving of 6-7m euros over 5 years. Qualitatively Samir might not be better than JC at his prime, but he sure is better than 2012 version of JC, so in addition to saving money we are better off qualitatively. A good deal for the brain, but not for the heart