Everton may then pay a further £750,000 to Leeds depending upon the amount of appearances Garbutt makes for Everton and the club will pay an additional £200,000 should the player win a full England cap.
In addition, should Garbutt be sold on - probably to Man United in a couple of years - Leeds will take 20 per cent of any transfer fee.
Which, in spite of Ken Bates' protests, seems like a fair price for a seventeen-year-old who has played to no higher a level than League One football.
But, if the player does reach the levels predicted for him then it's also a very good deal for Everton.
And it's not our fault Leeds have fallen so low that they're best players are being cherry-picked, that's just the way of the football world!