SAFC ordered to pay Alvarez compensation
Sunderland AFC have been ordered to pay Ricky Alvarez £4,770,000 as a longrunning saga finally comes to an end.
The former Inter Milan midfielder had taken Sunderland to the Court of Arbitration for Sport in a wrangle over loss of earnings, a case which has rumbled on for several years.
The Court of Arbitration for Sport has confirmed to the Echo that their final decision on Alvarez’s appeal was taken on December 1, 2020.
And after his challenge was partially upheld the compensation figure owed to Alvarez was set at £4,770,000.
Alvarez was challenging the decision of the FIFA dispute resolution chamber in June 2018.
In response to questions from the Echo, a Court of Arbitration for Sport spokesperson said: “The Court of Arbitration for Sport (CAS) issued the final award in the matter CAS 2018/A/5925 Ricardo Gabriel Álvarez v. Sunderland AFC on 1 December 2020.
“The appeal filed on 24 September 2018 by Ricardo Gabriel Álvarez against the decision issued on 7 June 2018 by the FIFA Dispute Resolution Chamber was partially upheld.
“The Challenged Decision was confirmed, save for paragraph 3 of the operative part, which now reads as follows:
“Sunderland AFC has to pay to Ricardo Gabriel Álvarez compensation for breach of contract in an amount of GBP 4,770,000 gross (four million, seven hundred and seventy thousand British Pounds Sterling).”
Sunderland are currently in the process of a takeover with Kyril Louis-Dreyfus set to take charge as majority
shareholder this month, subject to the owners’ and directors’ tests being concluded.
The 23-year-old has agreed a deal with Stewart Donald to purchase his majority shareholding and will become chairman.
The Alvarez case was heard and the decision taken at the start of December, three weeks prior to the
takeover being announced.
Sunderland AFC have not commented on the latest development in the Alvarez saga, a saga which dates back five years.
The former Inter Milan winger was supposed to join the Black Cats in a permanent deal in 2015 following a loan spell, but the club tried to pull out of the arrangement due to an injury sustained by the player.
Following a lengthy legal battle with Inter Milan, the Black Cats claimed the agreement to sign Alvarez on a permanent deal was invalid because of Alvarez’s injury issues.
However, a ruling at the Court of Arbitration for Sport resulted in the club having to pay Inter Milan £9m, plus more than £300,000 in interest.
Alvarez brought a separate claim relating to the period in which the two clubs were at loggerheads over his future, during which he feels he lost out on wages.
While an agreement over a settlement was reached, Donald then revealed that Alvarez was looking to secure a higher sum, the final fee has now been confirmed.