Norwich City's sell-on clause could mean a £3m windfall after Tottenham confirmed the signing of former Canaries' player-of-the-year James Maddison from Leicester City on Wednesday night.

The England international has agreed a five year deal to join Spurs for a reported £40m.

City negotiated a 15pc sell-on clause with the Foxes when Maddison moved to the East Midlands in the summer of 2018 for a fee in the region of £22million.

Between 10 and 15pc of that will go to first club Coventry City, however, who retain a sell-on clause from their original £2.5million sale of Maddison to Norwich in 2016.

That will be a significant boost to Canaries' finances, with the failure to be promoted last season meaning money is tight at Carrow Road this summer. All three of their confirmed senior signings arrived on free transfers, and their upcoming fourth, Spanish winger Borja Sainz, is also expected to be.

It's hoped the sales of valuable stars including Andrew Omobamidele and Max Aarons could fund more expensive moves to help with City's planned squad overhaul, but nothing is at an advanced stage for either.

Potential club record signing Milot Rashica is wanted, however, by loan club Galatasaray. The Turkish champions and the Norfolk club have been haggling over a permanent deal since midway through last season, but remain apart on their valuations and ideal payment structures.

Maddison joined Norwich from Coventry in the January of 2016, going on to spend time on loan back with the Sky Blues and at Aberdeen.

He went on to score 16 goals in 53 appearances in yellow and green, before becoming the club's record sale when he departed. He's spent five years at Leicester, making 203 appearances, scoring 55 goals and winning the FA Cup in 2021.

In a message on social media he said: "Leicester City family, I arrived as a 21-year-old boy and left as a 26-year-old man. Five seasons and 203 appearances later my journey with this special football club has come to an end.

"From the bottom of my heart, thank you all so much for accepting me and allowing me to flourish and be myself. I’ll never forget that. Every single time I got to pull that number 10 shirt over my head and represent Leicester City FC was a proud moment. An emotional and heartfelt goodbye. Love from Madders."