England striker Wayne Rooney had a £300,000 get-out clause in his contract with his former management team to enable a 'clean, commercial divorce', a court heard.
The arrangement meant he was liable to pay damages to Proactive if he terminated early his eight-year contract with the firm, which he signed in the summer of 2002.
The sum of £300,000 was to be paid if he broke the terms shortly after his signature when he was a 17-year-old, and would depreciate £37,500 each year he stayed on the contract.
Rooney’s barrister Paul Chaisty QC said the purpose of the clause was 'to create a clean break' or a 'commercial divorce' if the Manchester United footballer decided to walk away from Proactive.
The footballer and his wife, Coleen, are being sued for £4.3 million by Proactive for alleged loss of earnings.
Lucrative
Proactive say the couple owe the money in the form of commission payments for lucrative sponsorship deals which were sealed when they were still clients.
The firm’s ex-director, Paul Stretford, took them with him when he left the company in acrimonious circumstances in October 2008.
Quizzing Proactive’s finance director Mark Paige on the get-out clause, Mr Chaisty said: “It would follow that he would be free of obligations to continue to pay commission in respect of any ongoing contract.”
Mr Paige replied: “I would say so, yes.”
Presiding in the case, Judge Hegarty QC said: “Your assumption was that if this ’break clause’ was exercised by the client you would be entitled to any sums which you were already due but that all he would have to pay in future would be the amount on the clause?”
Mr Paige said; “That was my assumption.”
Mr Chaisty QC said: “You are aware that the present position adopted by Proactive is that it is entitled to the commission up to 2017 as well as claiming damages on the basis that if Wayne Rooney had stayed for the eight-year-term with Proactive, what he would have earned.”
Mr Paige said : “I have obviously had legal advice that is different but that was my understanding of the agreement.”
The Rooneys’ agent, Mr Stretford, is due to give evidence in the hearing at Manchester Mercantile Court.
Tweet
