Benfica reveal actual fee received from Alvaro Carreras transfer

When clubs announce transfer fees, the numbers can seem staggering.

However, the actual amount clubs receive is often quite different.

Benfica’s latest financial report gives us insight into how much of last summer’s big sales stayed in Lisbon and how much went elsewhere.

One name that stands out for Manchester United fans is Alvaro Carreras.

Carreras came through United’s academy before moving abroad and completed a high-profile transfer to Real Madrid last summer.

The reported fee was £43 million (€50 million).

At first glance, this appears to be a significant gain for Benfica.

Yet, the club’s official accounts reveal a more complex situation, as relayed by Record.

“The definitive sale of the rights of the player Carreras to Real Madrid, for the amount of £43 million (€50 million), generated a gain of £31.5 million (€36.627 million), after deducting £11.5 million (€13.373 million) which includes: (i) the retention of the solidarity mechanism, (ii) commitments to third parties, after the financial updates reflecting the payment plan, and (iii) the net book value of the athlete’s rights on the date of sale,” states the Report and Accounts for the first half of the 2025/26 financial year.

In simpler terms, even though Madrid paid £43 million (€50 million), Benfica’s real profit after deductions was about £31.5 million (€36.627 million).

Solidarity payments, which distribute part of transfer fees to clubs involved in a player’s development, along with commitments to third parties and accounting changes, lowered the final amount significantly.

Carreras’ journey adds an intriguing layer to this story.

The Spanish left-back joined Manchester United from Real Madrid’s youth setup in 2020, growing within the club’s academy before gaining senior experience on loan.

Although he never fully established himself in the first team at Old Trafford, his development path eventually led him back to Spain and to one of Benfica’s biggest transfers of the summer.

He wasn’t the only case mentioned in the report.

Orkun Kokcu’s transfer to Besiktas followed a similar pattern, where the overall transfer number did not accurately reflect the net gain for the club.

The figures in headlines rarely show the complete picture.

 In Carreras’ case, the numbers reveal that even a big sale doesn’t always result in a big profit.