Town will still make Chester payment

Ipswich Town will still have to make a financial payment to Chester City following yesterday’s sale of Jon Walters to Stoke City – despite the fact the club were wound up earlier this year.

IPSWICH Town will still have to make a financial payment to Chester City following yesterday’s sale of Jon Walters to Stoke City – despite the fact the club were wound up earlier this year.

Walters joined Town from Chester City in January 2007 for an initial fee of �150,000, with a sell-on clause also negotiated.

Chester City were wound up earlier this year, however, following Walter’s move to Premier League Stoke City for an initial fee of �2.75m it transpires Town will still have to make their sell-on payment

Blues Chief Executive Simon Clegg said: “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’ contract which was triggered by yesterday’s sale.”