Sheffield Wednesday will not receive any compensation from Ipswich Town once a deal goes through for the Tractor Boys to sign Matt Penney, as per a recent report by The Star.
The 23-year-old is expected to join Ipswich this week as his contract nears expiry at Hillsborough, meaning that he will be the latest first team player to depart since the club’s relegation from the Sky Bet Championship.
As is usually the case with players under the age of 24, the club that is signing said individual is normally required to pay a compensation fee to the other side in recognition for the training and development that the player has received up to that point.
However it is said in the report that Wednesday do not meet those requirements in the case of Penney’s move to Ipswich, with the Owls having not offered the player a new contract.
Quiz: What was the score the last time Sheffield Wednesday played each of these 25 teams?
By doing this, the club have now missed out on a fee for the player who came through their academy and as a result, Ipswich will now take him to Portman Road for next to nothing.
This news comes at a time when Wednesday could have really done with some form of windfall from Penny deal to ease their current financial situation.
But alas it appears that the Owls have chosen to let the 23-year-old leave easily and they will now miss out on a fee that they arguably would’ve deserved.
It’s a minor blow in the grand scheme of things but some people will certainly view it as an opportunity missed.
Many supporters will now be hoping to see some players come in through the entrance door, with funds having been freed up following the departures of several high earners from the season just gone.
Darren Moore will now be looking to get some deals over the line.