Official Receiver to Get Walters Cash
Town chief executive Simon Clegg has revealed that the club will pay the Official Receiver cash relating to the sell-on clause agreed with the now wound-up Chester City when Jon Walters joined the Blues in 2007. A sell-on of 20% was included in the deal, along with an initial fee of £100,000 plus another £100,000 on the player’s appearances and based on Town’s performances.
Walters was sold to Stoke City yesterday for a fee of £2.75 million rising to £3.25 million and Clegg has confirmed that the Blues will make a payment to what remains of the old Chester City club: "I can confirm that while Chester City FC was wound up in March 2010 it remains a legal entity and is controlled by the Official Receiver.
"I can also confirm that our respective lawyers have recently reached a mutually agreeable financial settlement in respect of the contracted sell-on clause in Jon Walters's contract which was triggered by yesterday's sale."
As reported yesterday, the new club formed from the ashes of the old one over the summer, Chester FC, is not entitled to any of the cash.
Story syndicated from TWTD.co.uk
What to read next:
The Copa de Ibiza - HistoryAs QPR prepare to visit Coventry City on Saturday, we look back at connections between the two sides, past results, and Rangers’ last successfully foray into European competition with the 2005 Copa De Ibiza triumph.
Smith in charge at Coventry - RefereeJosh Smith, last in charge of QPR for the memorable Good Friday win at home to Birmingham, is the man in the middle for the final day trip to Coventry.
End game – PreviewQPR need one result, in any one of a multitude of the remaining games, to secure their Championship safety - they get first swing at getting it for themselves tonight at home to Massive Leeds United.
So near and yet so far - HistoryAhead of the visit of Leeds to Loftus Road on Friday we look back at the final day of the 1975/76 season when QPR got the 2-0 win they needed to take their title bid down to Liverpool's final match at Wolves - 48 years ago this week.
Three into two won't go, will Leeds last the pace? Oppo profileHaving started the year with nine straight wins Leeds looked all set to overpower the Championship even in this extreme year at the top, but they’ve dropped points in five of their last ten to put the whole thing back in the balance. Nico Franks and Gruev Armada (@timmsy_ks) gave us the latest.