Shakers urge Nugent caution
12 Jul 2007 - 12:47:33
Bury director Ian Harrop has warned Shakers fans not to expect a summer spending spree despite the club benefiting from former striker's David Nugent's big-money move.
The League Two club sold the now England striker to Preston North End for £100,000 in January 2005, but inserted a 20 per cent sell on clause in the contract.
And now Nugent has moved to Portsmouth in a £7million deal, the Shakers will receive a large windfall.
However, Harrop has warned fans that the money will not arrive in a lump sum and is therefore more likely to be reinvested into the club over a number of years.
He told the club's official website: "Obviously this is a major windfall for the football club, but supporters have to be aware that the terms of payment have been negotiated between Portsmouth and Preston North End.
"The payment will be split over the player's contract, which we believe to be a four year deal.
"We will not be receiving a cheque in the post tomorrow for £1million plus. This is a split payment over a number of years.
"This is the way that most deals like this are structured, but a significant sum that will come into the club annually until fully paid by Preston."