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TOWN TO PAY CHESTER SELL ON FEE

Posted on: Thu 19 Aug 2010

Ipswich Town will make a financial payment to Chester City (whose accounts are controlled by the Official Receiver) following Jon Walters' move to Stoke.

Walters joined Town from Chester in January 2007 with a sell-on clause included in the deal.

Chester went out of business towards the end of last season but Town chief executive Simon Clegg says:"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.

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"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."