Chairman Bill Bratt has declared himself ‘very, very disappointed’ after a Football League tribunal decided that Preston should pay an initial £35,000 fee for Dave Hibbert.
The former youth team player made just two starts for the Valiants, scoring twice on his full debut, but Vale believe they should be entitled for a large fee on account of the ten years Hibbert spent at the club and the associated coaching and development that the player was given during that time.
However, the tribunal took just a reported twenty minutes to decide that Preston should pay an initial £35,000.
Further payments of £10,000 will be made after every ten appearances (up to a total of 50 games) adding an potential £50,000 to the fee while £20,000 will be paid if Preston reach the Premiership with Hibbert.
Vale will also be entitled to a further 25% sell-on clause to any profit