POLL: West Ham’s purchase of Ipswich Town’s Aaron Cresswell will be paid in instalments
- Credit: Archant
Ipswich Town will not receive one lump sum for Aaron Cresswell from West Ham United.
That has been confirmed by Tranmere Rovers chief executive Jeremy Butler, whose club will receive 20% of any payment made by the Hammers to Town, for Cresswell.
Rovers sold the Liverpudlian to Ipswich in the summer of 2011 and eventually received around £420,000 for the 24-year-old, who fulfilled a number of clauses laid out in that deal.
West Ham could eventually pay up to £7m for Cresswell depending on whether or not the left-back achieves a number of milestones in the five-year contract he signed at Upton Park last week, much to the delight of the League Two club.
“Butler said: “It’s good news for us and great news for Aaron.
“Some funds have come in from the sale but it is not as simple as it seems.
“As with most transfers, the deal struck between West Ham and Ipswich sees payments come over a period of time and not in one big lump sum.
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“The deal we struck means we receive a payment whenever West Ham make one to Ipswich, so we don’t receive one big fantastic lump sum
“We have received an initial payment and some of that will go towards team building.”
Yesterday, Town chief executive Ian Milne explained that the money received from Cresswell’s sale – as well as a six-figure cash injection from a new sponsorship deal with Greene King – will go straight into Mick McCarthy’s playing budget.