Gareth Barry move nets City £2m
Manchester City will receive two million pounds from Everton after the Merseyside club's completion of the permanent signing of Gareth Barry.
Former England international Barry, who spent last season on loan at Goodison Park, has joined the Toffees on a free transfer.
But although he was out of contract, the terms of the loan agreement struck last summer meant City would receive a fee rising from one million pounds if he joined Everton on a one-year deal to two million pounds for the three-year contract he has signed.
The payment will help City balance the books after they were found guilty of breaching UEFA's Financial Fair Play rules.
They are limited to a 49 million pound net spend over the next financial year and have already brought in three players.
Right-back Bacary Sagna came on a free transfer, but goalkeeper Willy Caballero cost a reported six million pounds and midfielder Fernando arrived for 12 million.
City, who are also looking for a central defender, had not brought in any money in the transfer market until Barry signed for Everton.
The 33-year-old, who was a 12 million pound signing from Aston Villa in 2009, made 175 appearances for City but did not feature after Manuel Pellegrini's appointment as manager.