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Cash Boost for Town?
By: Rob Sedgwick
RYAN Bennett's sale from Peterborough to Norwich should net the Mariners at least £700K thanks to a sell-on clause. The exact amount and the conditions attached to it have not been made public yet, but it appears Town stand to receive 25% of the profit which Posh made on the deal.
Posh bought Bennett from Grimsby for £500K and sold him for somewhere between 3.5 million and 4.0 million to the Premiership side. That would see Town receive at least £750K according to our calculations.
Bennett, who originally was a trainee at Ipswich, came through the youth system at Blundell Park under Neil Woods and became one of the youngest ever Grimsby captains when Town were in League 2. Despite Town's poor form at the time Bennett attracted a lot of attention from bigger clubs and Posh won the race for his signature, paying Grimsby half a million. Town insisted at the time on a sell on clause, which is what the Mariners now stand to benefit from.
Grimsby were forecast to lose half a million pounds this season, so the cash will keep the wolf from the door until at least the summer, although Town still have a problem making the books balance in the medium and long terms. Thanks to Bennett's sale they managed to get through the transfer deadline without needing to sell any of their best players, but Town may have to reconsider their position in the summer if their fail to secure promotion back to the Football League.
In other news Paul Hurst and Rob Scott have been named as Blue Square Bet Premier League managers of the month for January, and striker Liam Hearn has also picked up the top player award.
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