Exeter City Football Club is pleased to confirm that we will receive a financial sum following the sale of former Academy player Jay Stansfield from Fulham to Birmingham.
The details of this agreement remain confidential between the two clubs, and we are obliged to respect this confidentiality. However, we can disclose that the financial benefit to Exeter City will be structured as a series of payments over an extended period.
We are delighted for Jay. He and his family will always have a special place in the hearts of Exeter City supporters, and we know he will receive a warm welcome when he returns to St James Park.
The structuring of deals of this nature can be challenging for clubs to manage as the full amount of the total fee is included in the year end accounts for that year, even though they might only have received a fraction of the cash. This in turn means that the tax liability for clubs can increase significantly before the full sum has been received.