Luton Town have revealed they will receive around £1.1m after former striker Andre Gray was snapped up by Burnley on Friday.
The Clarets paid an undisclosed club record sum to take Gray to Turf Moor from Brentford, but Hatters, who inserted a sell-on clause as part of the deal that took Gray to Griffin Park, have taken the unsual step and refreshing step of releasing what they have earned.
“This will be utilised in areas that will further enhance the stability of the club.”Gary Sweet
Hatters have pocketed an initial figure approaching £300,000 followed by two payments of just over £400,000 each during the following two campaigns.
Should Gray contribute to Burnley’s success, resulting in a ‘successful Premier League spell’, then Hatters will also receive an extra £700,000 boost to their coffers.
Hatters chief executive Gary Sweet told the club’s official website: “Everyone at the club takes huge pride in seeing players who have developed with us blossom in their careers.
“We’re absolutely thrilled for Andre in this case – he’s a very honest, ambitious and hard-working player who deserves every success.
“We also take great heart from the kind things he has continued to say about our club since his departure.
“Naturally we welcome the additional income that we have benefitted from as a result of Andre’s talents, and this will be utilised in areas that will further enhance the stability of the club.
“We would also like to personally thank those people who played their part in the scouting and recruitment process of Andre, as well as those who have helped develop him into the player he now is, a development that I’m sure will continue under Sean Dyche and alongside former Hatter Matthew Taylor.
“We wish Andre the very best of luck at Turf Moor and Burnley the best of luck in their promotion campaign.”