Hughes’ £700k gamble on Stephenson hinges on a 20% clause

Richard Hughes has structured Bolton Wanderers’ £700,000 capture of Luca Stephenson with a 20 percent sell-on clause that could trigger further earnings for Liverpool. The 22-year-old Englishman, who can play right-back, right wing-back and central midfield, left Liverpool after agreeing a permanent switch to the Championship side. Stephenson’s departure followed his decision to prioritise first-team football over waiting for opportunities under Andoni Iraola. The versatile player had come through Sunderland’s ranks before joining Liverpool in 2018 and was released despite still being under contract until 2027. His Liverpool exit was priced at just £700,000, a figure that surprised observers given his recent contract extension last summer. Stephenson had impressed during two loan spells in Scottish football with Dundee United, where he was named young player of the year in 2025 and even captained Jim Goodwin’s side last season. His reputation for attitude and work rate, combined with his strong impression at Dundee United, suggests he is on course for higher-level football.

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The young midfielder was close to a January loan return to Liverpool when Arne Slot was searching for options at right-back. His season was ultimately cut short by a hamstring injury, which kept him sidelined until the preseason period. Now settled at Bolton Wanderers, Stephenson is ready to make an impact in the Championship under his new manager. The inclusion of the 20 percent sell-on clause means Liverpool retain a financial stake in his future development and potential onward moves. Hughes’ decision to include the clause reflects Liverpool’s ongoing strategy to monetise youth talent even after departure. The clause ensures that if Stephenson progresses as expected, Liverpool could benefit financially from any future transfer. For Hughes, the clause represents a calculated risk that could yield significant returns should Stephenson’s career flourish beyond Bolton Wanderers. His path to the Premier League, if not with Liverpool, appears increasingly likely.