JibrinIf there’s one transfer from last summer that still leaves a bitter taste in the mouth of Leicester City fans, it’s the arrival of Jordan Ayew. While the veteran Ghanaian forward was brought in to add Premier League experience to Steve Cooper’s newly promoted squad, the circumstances surrounding the fee have always felt like a classic case of Leicester City doing the opposition a favour.
The rumour mill has been churning ever since, suggesting that the Foxes initially lowballed Crystal Palace, only to panic and hand over exactly what they were asked for. But is that version of events accurate? We’ve dug into the reports to piece together exactly what happened in that August transfer window.
The Opening Gambit: A Lowball Offer?
The speculation doing the rounds on social media is that Leicester initially tested the water with a rather modest £3 million bid. Unsurprisingly, Palace—who knew they had a saleable asset with just a year left on his contract at Selhurst Park —are said to have scoffed at that figure and held firm for £5 million. It looked like a game of negotiation chicken was about to begin.
However, if that was the strategy, Leicester blinked first. According to reports from the BBC at the time, the “Foxes wanted to bring in at least two offensive players,” and Ayew was the primary target to support an aging Jamie Vardy .
The Agreed Fee: What the Records Show
So, what did we actually pay? The idea that Leicester simply folded and paid the £5 million is only half the story. According to transfer market experts and The Athletic, the final agreement wasn’t quite as clean-cut as the rumours suggest.
On August 23, 2024, Leicester confirmed the arrival of the 32-year-old for an initial fee of £5 million . But here is where it gets slightly more complicated—and perhaps a little more forgiving for the club. Reliable sources indicate that the deal was structured with potential add-ons worth an additional £3 million, bringing the total package up to £8 million .
This matches reports from the time that Palace had turned down a £4 million offer earlier in the month before finally agreeing on the £8 million valuation . For Palace, securing up to £8 million for a player with just one year left on his deal was considered “a good piece of business” .
Why It Feels Like a Bad Deal Now
Looking at the raw numbers, the initial outlay might not seem disastrous. However, context is everything. Leicester had just been promoted and were navigating the Premier League’s Profit and Sustainability Rules (PSR). Every million counted. Moreover, while Ayew brought experience, he wasn’t a prolific goalscorer; he had contributed just four goals and eight assists in 37 appearances in his final season at Palace .
Fast forward to the 2026 Championship season, and the deal looks even less impressive. According to recent performance data, Ayew—now 34—has managed just five goals and three assists in 30 Championship appearances . In a season where Leicester are fighting for promotion and finding themselves mid-table, the return on investment is looking thin .
The Verict
While the rumour that we offered £3m and paid £5m is slightly reductive—ignoring the complex add-ons that sweetened the pot for Palace—the sentiment among the fanbase is understandable. Leicester City ended up paying a significant fee (rising to £8m) for a player who, while industrious, has never been a prolific marksman.
Crystal Palace walked away with cash in hand for an aging player, while Leicester were left with a squad player on the books whose market value has since plummeted to around €1.8m . Whether you call it “getting their pants pulled down” or just a necessary evil of Premier League squad building, the Ayew transfer is a deal that will likely haunt the club’s financial flexibility for a little while longer.
Jibrin
