Walsall Reveal the Truth on the Ricketts Transfer

By Neil Ravenscroft
February 4 2003

Walsall Chief Executive, Roy Whalley, has at last decdided to clear up the confusion over the Ricketts deal, following his move to Middlesborough.

In a statement on the official Walsall web site, Roy Whalley has revealed the truth about the sell on clause.

Obviously stung by the article in last night's Express and Star, which stated we may be receiving £700,000 from the sell on clause, he said the claims were "totally misleading".

He went on to say "It is true that the club will derive financial benefit from the transfer of Ricketts to Middlesbrough.
In the deal taking him to Bolton Wanderers, 'sell on' clauses were included.
However the figures quoted in Monday evenings Express & Star were wide of the mark.
The transfer fee paid by Middlesbrough was £2.5million not £3.5million. Some 'sell on' clauses have been inserted but these are dependent upon Middlesbrough achieving League and Cup success during the next couple of seasons.
To calculate Walsall's share of the transfer you have to deduct the amount already paid by Bolton to Walsall for the original transfer, from the £2.5million paid by Middlesbrough. We receive 20% of the balance, amounting to £420,000.
This money will be received in a series of stage payments".

It would appear that the cash windfall will not be anything like as large as we all hoped, hence Colin Lee's comments that all it might do is allow us to bring in loan players.