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Tribunal money will not be spent on players

2/10/2008

BURY boss Alan Knill has been told that he will not be given money to spend on new players any time soon despite the club scooping up to £320,000 for the loss of midfielders Nicky Adams and Dale Stephens.

A tribunal decided on Monday that Oldham must pay Bury up to £95,000 for prising away Stephens.

That followed a cash windfall of up to £225,000 for Adams, who now plays his football for Leicester, in another tribunal hearing.

Knill believes that the verdicts were ‘fair’ for both players.

But his appeal for some of the money to come his way appears to have fallen on deaf ears.

Knill said: "I have asked the club if I can spend some of the money on strengthening the squad, but right, now the answer is no.

"That may change further down the line though.

"And, with the way that the team are performing at the moment, it is fair to say that we are not desperate for new players anyway. But I am still on the lookout for a young striker that I can bring in on loan as we are short in that department."

Bury will receive an initial payment of £30,000 for Stephens.

They will then pick up £10,000 for every 15 first team appearances that he makes up to 60 games. And if the Latics gain promotion in the next two years a further £25,000 will be heading Bury’s way, as long as Stephens has played in 50 per cent of the matches.

The tribunal board also added a 20 per cent sell-on clause in Stephens’ contract.

Knill said: "I am happy with the result but I can’t be too happy as I didn’t want the player to leave."