Why Sheffield Wednesday won’t get anything for Matt Penney’s Ipswich Town move
Penney is expected to finalise a move to the Tractor Boys this week as his contract at his boyhood club comes to an end, but – despite being 23-years-old – the Owls aren’t set to receive any compensation.
Under the rules of the English Football League any club signing a player under the age of 24 is obliged to pay compensation for the training and development of a player – but only if certain requirements are met from the side of his former club.
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Hide AdOne of those requirements is that the player’s old club, Wednesday in this case, need to have offered a new contract that is either better than or equal to the contract that is expiring.
With Penney, The Star understands that he was allowed to leave as a free agent when the club decided that he would be moving on, and didn’t offer him a new deal at all as the young defender was made aware that his future would lie elsewhere.
That decision, whilst it may see them miss out on a bit of money, will have no doubt made Penney’s future move easier, with Ipswich being able to sign him as an actual free agent rather than having to pay a fee.
Penney is likely to finalise his move to the Owls’ League One rivals this week.