GRIMSBY Town Football Club had assumed further payments may be due from Peterborough United, relating to appearances made by Ryan when Norwich City were in the Premiership, and the loan back for one month of Ryan from Norwich City to Peterborough United, during the first month of the transfer.
There was a sell-on agreement of 25% between the clubs relating to Guaranteed Payments, which was vetted, modified if necessary and approved, as all contracts are by the FA. It was also scrutinised and accepted by the FA.
Grimsby Town Football Club took the view that under FA rule K, that it would seek a ruling on the basis 'nothing ventured nothing gained' in the sense that Guaranteed Payments could include a proportion, 25% of further payments made by Norwich City to Peterborough United being paid to Town.
The arbitration took place on the 24th of November. It was ruled later that week that there was no further monies due to GTFC from Peterborough United, however, there remains five months of free loans of players outstanding, subject to agreement.
There is nothing to be disappointed about, as the club approached this on the basis, 'nothing ventured nothing gained'. In any event, the transfer of Ryan Bennett in 2009 was very lucrative for the club, approaching £1.2m in total.
There will be no further comment on this matter.