posted on Aug, 16 2003 @ 09:23 AM
Kevin Phillips took a 50% pay cut to clinch his £3.25million return to Southampton, the club who rejected him as an 18-year-old right-back because
they thought he was too small.
The former England striker, 30, left relegated Sunderland for an immediate return to the Barclaycard Premiership with Gordon Strachan's side.
Phillips has signed a four-year deal but had his wages halved, although he has pocketed an unspecified slice of his transfer fee.
The Black Cats, who have actually only received £2million of the £3.25million fee, said the remaining £1.25million was taken up by "related selling
costs and contractual obligations".
Phillips has taken a cut - although that is not understood to be in the form of a loyalty bonus - and his former club Watford have also benefited from
a sell-on clause. Another unknown party has also profited.