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.
You may also want to watch:
“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.
- 1 Ed Sheeran to be Ipswich Town shirt sponsor for 2021/22
- 2 Driver convicted of killing friend in A12 crash
- 3 Teaching assistant wins unfair dismissal claim
- 4 First views of £1.5m new seafront cafe as hoardings removed
- 5 'Complete shock' - Neighbours stunned after cannabis farm uncovered
- 6 Woodbridge nurse plans Caribbean retirement after National Lottery win
- 7 'It could have been a lot worse' - Thatched home owner thanks crews after fire
- 8 Woman in hospital after fire at Ipswich house
- 10 Election 2021: Suffolk County Council candidates published
“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.