Date: 27th April 2009 at 10:39pm
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Newcastle United have announced that the club has reached an out-of-court settlement with Real Mallorca for the transfer of the Argentine midfielder Jonas Gutierrez.

Earlier, a court in Spain had granted the selling club compensation worth £5 million – which the Tyneside club were set to contest by way of appeal.

It has now emerged that the Toon have settled the matter for an amount much lower than the stated court order.

In an official club statement on the Toon chiefs revealed:

NEWCASTLE United can today confirm they have reached an out of court settlement with Real Mallorca and Velez Sarsfield for the registration of Jonas Gutierrez.