Luton Town get financial boost after Andre Gray transfer
Saturday 29 August 2015 14:53, UK
Luton have been boosted by the news they will receive a seven-figure fee following former striker Andre Gray's move to Burnley from Brentford last week.
The 24-year-old joined the Hatters in 2012 following a successful loan spell from Hinckley United and scored 47 goals in 88 appearances to assist the club in securing promotion to Sky Bet League 2 before moving the Brentford last summer.
Gray impressed for the Bees, netting 18 goals in his debut season and helping them reach the Championship play-offs, before he was on the move again when the Clarets came calling, signing a three-year deal in Lancashire for a reported £9million on Friday.
Having agreed a sell-on clause in the transfer that originally took Gray to Griffin Park, Luton confirmed on their official website: "We are guaranteed to receive a shade over £1.1m from the fee which will be spread over three seasons; an initial figure approaching £300,000 followed by two of just over £400,000 each.
"Should Andre contribute to Burnley's success, resulting in a successful Premier League spell then we will also benefit further - to the tune of up to £700,000."
Hatters chief executive Gary Sweet added: "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 benefited 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 I'm sure will continue under [Burnley boss] 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."
