During the Mike Ashley era, Newcastle United were not always known for being shrewd recruiters in the transfer market. However, they did have an occasional knack for landing the odd gem and Spanish forward Ayoze Perez fell into that category.
He was plucked from relative obscurity in Tenerife after starring in Spain's second tier for a fee reported to be just £1.5m, making him a relatively low-risk addition. Although sometimes frustratingly inconsistent, he managed to make a surprising 195 appearances for the Magpies and scored 48 goals, particularly impressing under the tutelage of Rafael Benitez.
During his time on Tyneside, he proved capable of leading the line, playing as a second striker and operating on the right of a front three, establishing himself as key player under Alan Pardew, John Carver, Steve McClaren and Benitez. His exploits in black and white eventually attracted the attention of Leicester City, who surprised a few by activating a £30m release clause for Perez' services back in July 2019.
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However, Perez has delivered on that investment in the Midlands and it is hard to imagine Leicester being able to recoup the reported £30m they forked out for him or even getting close to that figure. Stats site Transfermarkt pitch the 28-year-old Spaniard's current value at £13.5m - less than half the fee Newcastle recouped for him almost three years ago.
Although used frequently during his maiden campaign with the Foxes, he fell out of favour during his second season and even briefly dropped out of Brendan Rodgers' matchday squads entirely. A switch to 3-4-2-1 and stern competition in the Leicester ranks sent the Spaniard plummeting down the pecking order.
At Newcastle, he was a regular starter but at Leicester, he has been reduced to a member of the supporting cast vying for a more prominent role. Perez has been seen even less this season and his last league outing was in January, when he was used as a 92nd-minute substitute in a 1-1 draw with Brighton & Hove Albion.
The 28-year-old has made just three league starts all season, failing to remain on the pitch for 90 minutes once and continuing his role as a fringe player. As he enters his peak years as a player his future at Leicester looks bleak and the Magpies have since moved on from his exit, although some supporters may still wonder what could have been had he remained, had Rafa Benitez been convinced to stay in charge for the 2019-20 season.
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