There’s no doubt that Jermain Pennant‘s played for some big clubs during his career, but the 26 year old’s move to Real Zaragoza has him laughing… Laughing because he just got Zaragoza to pay the taxes on his weekly salary.

Via Guardian

The winger, who spent the latter half of last season on loan from Liverpool at Portsmouth before he became a free agent at the beginning of the month, chose Zaragoza, who are newly promoted to La Liga, ahead of Atlético Madrid and Espanyol.

The 26-year-old also had an offer on the table from Milan but he believes that the Italian club will re-sign David Beckham and start him on the right side of midfield, which would restrict Pennant’s playing opportunities.

It is the detail of Pennant’s deal at Zaragoza with regard to taxes that will have some English players and agents salivating. His three-year contract is worth £6.24m net, with the Spanish club effectively paying his taxes. They have been helped to do this by top-bracket tax perks or what has become informally known in Spain as the “Beckham law”. In an attempt to encourage overseas businesses to place their leading executives in Spain, the government introduced legislation to cut taxes in the top bracket to 23% for the first five years. Real Madrid, a club synonymous with galáctico signings such as Beckham, then argued successfully that leading overseas footballers ought to enjoy the same privilege.

Zaragoza will pay £9,200 a week in taxes on behalf of Pennant, as they have guaranteed him take-home pay of £40,000 a week. In England, where players tend to be paid gross and, as of April, the tax rate for high earners stands at 50%, Pennant would have needed a salary of £80,000 a week to match what he will now get.

Image via DailyMail