Trust confirm Ibe sell-on has paid off Steve Hayes debt
Thu Dec 1, 2016 07:10
Wanderers have used an estimated £1.4m sell-on fee received from Liverpool for the sale of Jordon Ibe to Bournemouth to pay off the full amount of Steve Hayes’ debt and also have been left with a cash surplus.
Trust Chairman Trevor Stroud broke the news at the Trust AGM held on Wednesday (30th November 2016). Stroud confirmed that Liverpool had now paid the sell-on fee but was unable to state the precise amount due to non-disclosure agreements in the contract. However, he immediately went on to say that there was a ‘very happy man sat at the back of the room’, as he indicated that the Club’s estimated £1.2m debt to former owner Steve Hayes had been paid off in full. Stroud added that Hayes had also offered a donation to the Trust and quipped that ‘it would have been rude not to’.
Club Chairman Andrew Howard confirmed later the negotiations with Liverpool had been the worse experience of his life and suggested that the Premier League Club had used their big boy status in an attempt to delay payment. He won’t be visiting the city any time soon, although a Third Round FA Cup draw with the Merseysiders, would be interesting.