PORTSMOUTH have completed the signing of striker David Nugent after he passed a medical and Preston accepted a fee thought to be £6million. Bury are in line for a £1.5m windfall from their former star's move.
Shakers director Ian Harrop has promised that money earned will pay off the mortgage on Gigg Lane.
The 22-year-old left the Shakers for North End in a £100,000 deal in January 2005, with Bury desperate for cash.
But the League Two club included a sell-on clause, making them entitled to 20% of any profit made on Nugent, and Preston have now sold the England international to Pompey for £6million.
Harrop said: “As we’ve said, the cash will be spent on the mortgage for the ground and the club will then be virtually debt-free.”
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Good for you, Bury. As a City fan, I think the gap in wealth between the Prem and Football League is obscene. Sell on clauses are one of the last ways the lower league clubs can hope to survive. Best of luck for next season.