Posh are ordered to pay compensation for former Luton starlet Richens

PETERBOROUGH United have been ordered to pay the Hatters ‘significant’ compensation for enticing away youngster Michael Richens.

By The Newsroom
Tuesday, 17th January 2012, 1:47 pm

After a lengthy hearing at Wembley on Wednesday an FA tribunal ordered the Championship side to pay Town compensation, in the form of a five-figure upfront payment along with add-ons throughout Richens’ career at Posh, which will include payments to Luton Town triggered when the player signs a professional contract, makes appearances in the Football League and a sell-on clause.

The four-man panel supported the Hatters’ claim that they retained compensation rights for the three-and-a-half years Richens spent within the club’s youth programme.

Head of youth Gregg Broughton said: “Although we are always sad to lose a player of such ability, we felt determined that Luton Town should receive payment for the hard work put into identifying and developing Michael over the three years he was at Luton Town despite the club’s league position.”

For the full story, see this weeks Luton News/Dunstable Gazette on sale tomorrow.