Friday, 11.50am: The Peterborough Telegraph understands Crystal Palace have paid £6 million for Peterborough United striker Dwight Gayle.
Gayle, who has been offered a five-year deal, is believed to be in London on Friday (28 June) discussing personal terms and undergoing a medical with the Premier League club.
Palace are understood to want to formally announce the transfer on Monday (1 July).
The transfer fee represents an astonishing profit on a player Posh paid Dagenham & Redbridge just £500,000 for in January. The fee smashes the Posh record sale of £3.2 million Norwich City paid for defender Ryan Bennett in January 2012.
Dagenham will be entitled to a cut of the fee, believed to be between 15-20 per cent. Posh have also insisted add ons relating to appearances, goals and Premier League survival are written into Gayle’s Palace contract.
The sought-after striker had been the subject of much interest from Premier League and Championship clubs this summer, but Palace have beaten off the competition.
Posh Director of Football Barry Fry, who handles the club’s transfer business, could not be contacted today, but Palace officials confirmed to the South London media last night that they have agreed a fee for Gayle.
Gayle was spotted at Palace’s Beckenham training ground yesterday.
It’s a dream move for a player who was playing Ryman North League football with Bishop’s Stortford 13 months ago.
Gayle earned rave reviews while firing 13 goals for Posh at Championship level last season following his arrival from League Two side Dagenham, initially on loan, in November.
Posh were condemned to relegation from the Championship in heartbreaking style by Palace on the final day of last season.
The South London side then went on to clinch promotion through the play-offs.