Explained: Haaland release clause, contract demands, transfer fee & more as Man City and Real Madrid battle

Erling Haaland does not have a €75 million (£63m/$83m) release clause in his Borussia Dortmund contract, GOAL and Spox understand.

It was widely thought the Norway striker would be allowed to leave this summer should a club trigger the release fee, with Manchester City and Real Madrid believed to be leading the chase for his services.

However, it is understood that it is merely a "gentlemen's agreement" between Dortmund and Haaland’s advisors, with more details about the structure of any transfer and the players wage demands also now revealed.

GOAL and Spox understands Dortmund value their ethics in such situations and intend to respect the agreement should the required fee be met.

However, as a listed company on the stock market, the club also has an obligation to its shareholders.

Should several offers arrive for Haaland, then the club would have to consider the highest offer and reject any bid significantly lower than one it considers fair.

GOAL and Spox understands chief executive Hans-Joachim Watzke wants to respect the club’s word given to Haaland, but knows he also has an obligation to ensure the offer does not harm the interests of the club's investors.

Haaland will have the last word on his destination, but Dortmund will also have to ensure that the chosen offer is the best possible.

As a listed club Dortmund would also have to announce when the Haaland deal is close as it would affect the share price, in line with German financial regulations.

The structure of the deal is also likely to be complex, with Dortmund keen to make as much money from the transfer as possible.

In the event of a sale, Dortmund are expected to make solidarity payments to Haaland’s former clubs Molde and Salzburg. However, the Bundesliga