Cambridge United are pleased to announce that a deal was struck earlier this week with Reading FC regarding the 'sell-on' fee for David Kitson.

"There are a lot of unscrupulous people and clubs in football and I am delighted with the manner by which Reading have conducted the whole matter," said U's Chairman, Philip Law.

"Where sell-on fees are calculated as a percentage of the subsequent transfer fee, as was the case in the Kitson agreement, it is frequently the case that figures are manipulated so as to reduce the selling club's liability.

"Reading have been honest and open about the entire process and we have been open about the entire process, and we have been able to reach an agreement which has already seen a very large sum of money deposited in the bank account of Cambridge United."

The move to Stoke City will see Kitson remain in the Premiership and further his well established career at the highest domestic level.

The transfer was announced this afternoon with a headline value of £5.5million but the U's Chairman cautioned, "As is the norm with transfer fees, we believe the fee paid up front is considerably less than the headline figure."

Law continued, "We will be looking to use this 'windfall' wisely and will effectively invest it in the Club over the coming seasons.

"In recent years, we have tended to lurch from one financial crisis to another. This money, coupled with a Board and Chief Executive of the calibre we now possess, will go a long way towards safeguarding Cambridge United."

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