Southend United will pay Aldershot Town a compensation fee of £17,500 for defender Anthony Straker following today’s Professional Football Compensation Committee meeting.
The PFCC met today regarding Straker’s move to Roots Hall in the summer after the two sides were unable to agree compensation rights for the 24-year-old.
The Blues will also be required to pay an additional £5,000 if they win promotion to npower League One in the 2012/13 or 2013/14 seasons.
The club will also pay Aldershot 20% of any profit it makes from selling the player to another club at any point in the future.
Southend United were represented by chief executive Steve Kavanagh, club secretary Helen Norbury and the player, Anthony Straker at the meeting in London.
Commenting on the outcome Steve Kavanagh said: "The matter has been resolved now and Anthony can concentrate on developing himself as a player and helping bring success to Southend United."
In accordance with the rules of The Football League, and in agreement with The Professional Footballers’ Association, the Professional Football Compensation Committee (PFCC) is responsible for setting the compensation fee for players Under 24 where the club formerly holding his registration and the club next holding his registration fail to reach an agreement regarding compensation for training and development.
The PFCC comprises of an independent Chairman, an appointee from The Football League, an appointee of The Professional Footballers’ Association and an appointee of the League Managers’ Association.
In setting these compensation fees, the PFCC took into account the costs of training and development, the player’s age and playing record, the length of time he was registered with his former club, the terms offered by both clubs, the status of the two clubs, transfer fees paid previously for his services and the interest shown by other clubs in acquiring the registration of the player.