1. Seeing a number of comments about the fee on Reggie Cannon’s sale to Boavista that make me think folx don’t understand what makes a market.

2. Boavista is more or less a “market maker” (what we call a ‘selling club’) that is, the liquidity in global player market. They’re going to buy and sell at the entry to mid level of the market and sell and the mid to high level.

3. They’re akin to a third party facilitator in the market, they want maximize the spread between asking price and sale price.

4. This, by definition, means Boavista (or Lille, who is perhaps behind the buy) are not *just* thinking about the price they’re paying for Cannon; they’re also surveying the future(s) market for what they can sell him for.

5. As such, Boavista are only going to buy within their price spread modeling. If another buyer enters into the market Cannon and drives the price outside of their spread, they’re just going to walk away. Absent another bidder, the price is what it is.

6. It’s on both the selling club and the player’s agent(s) (usually working together) to create a multiple bidder market to maximize the sale price. Simply going back to a single buyer and asking for a higher price is not an effective strategy.

7. So you can safely assume Boavista was either the highest bidder or the only buyer.

8. I suppose you can also consider non-market forces like, a pre-negotiated sell-on to Lille for a reduced price, but the broader point remains FCD/Cannon were motivated to sell, and took the best offer on available.