TORQUAY UNITED have confirmed they will receive no cash up front from the transfer of former player Eunan O’Kane to Leeds United.
The Republic of Ireland international signed for Leeds from Premier League side Bournemouth on transfer deadline day for an undisclosed fee.
Gulls fans had hoped the club would be in line for a much-needed cash windfall but that won’t be the case, or at least not straight away.
O’Kane, 26, made over 100 appearances for Torquay in his two years at Plainmoor and was named in the League Two team of the year for the 2011-12 season.
His performances attracted plenty of interest and he signed for Bournemouth, then in League One, for £175,000 with Torquay negotiating a 15 per cent sell-on clause.
Despite that, any cash Torquay do receive won’t be making its way into the club’s coffers any time soon.
A club statement read: “Torquay United FC has to respect the confidentiality of the deal between AFC Bournemouth and Leeds United FC in regards to the transfer of Eunan O’Kane.
“However, we can divulge that Torquay United FC will not receive any monies at this present time due to the arrangement made between the two clubs. There is the possibility that the club will benefit from future payments.
“We apologise to all of our supporters that we are unable to divulge any further information as a result of the legally binding contract between AFC Bournemouth and Leeds United FC.”
