Benfica forward Franjo Ivanovic set for Hull City loan with €25m obligation to buy

The transfer agreement

Benfica and Hull City are finalising a deal that will send Franjo Ivanovic to the English club for the 2026/27 season. The move is structured as a loan with a mandatory purchase clause, bringing the total value to around €25 million. The obligation to buy is triggered by easily achievable conditions, according to Portuguese sports daily O Jogo. Hull City, promoted to the Premier League this summer, have already signed midfielder Hidemasa Morita from Sporting and are now adding the Croatian forward.

Ivanovic's season in Lisbon

Ivanovic arrived at Benfica in the summer of 2025 from Belgian side Union St. Gilloise for a fee of €22.8 million, which could have risen to €27.8 million with add-ons. He quickly became a starter under then-coach Bruno Lage, forming a partnership with Vangelis Pavlidis. However, the arrival of José Mourinho mid-season reduced his playing time, and he only regained a regular spot late in the campaign. Across 42 appearances in all competitions, he scored eight goals and provided two assists. His contract runs until 2030.

Why he is leaving

The 22-year-old was not included in the squad for the second leg of Benfica's Europa League second qualifying round tie against St. Gallen, a decision by current manager Marco Silva that reportedly left Ivanovic dissatisfied. The club had already strengthened its attack by signing Jhon Durán, further limiting Ivanovic's prospects. With Pavlidis remaining the first-choice striker, the Croatian international sought a move to secure regular football.

Other suitors

Before Hull City emerged as the frontrunner, several clubs expressed interest. Como 1907, Real Betis, and Galatasaray all presented offers, while Lazio were also monitoring the situation, according to Il Messaggero. Benfica considered Hull City's proposal the most advantageous, and the player himself favoured the move to England.

Financial breakdown

The €25 million total from Hull City will allow Benfica to recoup the €22.8 million they paid a year ago. However, Union St. Gilloise retained a 20% sell-on clause on any future profit. With the capital gain standing at €2.2 million, the Belgian club is entitled to approximately €440,000, leaving Benfica with a near break-even outcome on the player's registration. The deal mirrors the one that took Florentino Luís to Burnley last year, where an initial loan with a mandatory purchase clause was also used.