How do we know this?
Not having a go and I have just based my post on an assumption. Just wondered where the 25% profit came from?
That's what I've mostly read, and it makes far more sense than 25% of any sell-on fee. Obviously, Liverpool got taken to the cleaners in this deal, but it's hard to imagine us agreeing to 25% of any transfer fee.
Then again, from the word go, we passed on the fee to Chelsea (nobody knows, but I reckon that when Ashley pulled £35m out of his arse, we called up Chelsea and asked for £20m more for Torres. They agreed, we agreed). With that thinking (i.e. someone else is paying), it's possible they agreed to anything
If they were daft enough to pay 35 mill then they were probably daft enough to agree to 25% on the fee rather than profit.