Manchester United will get the full €35 million transfer fee for David Beckham only if Real Madrid reach the Champions League quarter-finals in each of the next four seasons.
The 28-year-old England captain agreed a four-year contract with the Spanish club last night, but just €7.5 million of the fee will be paid up front with another €17.5 million over the next four years in equal instalments, the English champions said in a statement.
Another €1.25 million will be due each time Real Madrid qualify for the Champions League over the next four seasons, and a further €1.25 million is payable if the nine-times European champions advance to the quarter-finals.
Proceeds from Beckham's sale will be used to support Manchester United's business development, including playing success at the highest level, chief executive Mr Peter Kenyon said.