Hull City agrees £22m package to sign Everton midfielder Tim Iroegbunam

Hull City has agreed a £22m package to sign 23-year-old Everton midfielder Tim Iroegbunam. The player has officially been granted permission to travel to East Yorkshire to complete his mandatory medical examinations.

The financial structure of the deal includes an initial guaranteed payment of £13m. This fee is contractually structured to rise by a further £9m contingent on specific performance-related add-ons.

This transaction represents a substantial return on investment for Everton’s front office. The club originally acquired Iroegbunam from Aston Villa for £9m in 2024, meaning they stand to more than double their initial capital outlay within two years.

The move is part of a broader financial and squad restructuring at both clubs before the Tuesday night transfer deadline. Hull City is pursuing an aggressive expansion strategy, with Iroegbunam set to become their 13th signing of the summer window.

The club is also in advanced discussions to secure Chelsea midfielder Dario Essugo on a temporary loan deal. This indicates a concerted effort to deploy available capital rapidly to strengthen their competitive roster.

For Everton, the Iroegbunam sale is one component of a high-value reshaping of their player asset portfolio. The club has already agreed to a £65m sale of winger Iliman Ndiaye to Manchester City.

Capital generated from these outgoing transfers is being systematically redirected into new acquisitions. Everton is currently close to finalizing a deal for Monaco striker Folarin Balogun to bolster their attacking options.

Furthermore, the Merseyside club is actively negotiating for Manchester City winger Jack Grealish and Fulham defender Kenny Tete. These parallel moves signal a clear intent to reinvest transfer profits into established, marketable talent.

However, not all targeted financial maneuvers are succeeding in this volatile market. Negotiations regarding a potential return for Richarlison from Tottenham have officially stalled. Consequently, his arrival on Merseyside is no longer expected to materialize.