Sunderland Football Club has accepted a compensation package from Manchester United for striker David Bellion, which includes an initial £2m guaranteed fee, payable immediately.
The package also includes further build-up payments, worth up to £1m, payable on appearances and international call-ups.
A sell-on clause ensuring the Black Cats will benefit from any future transfer of Bellion has also been negotiated.
Sunderland are pleased with the settlement and chairman Bob Murray, who was central to negotiating the deal, said: “We are happy with the package and feel that it is entirely deserved as we lost an exciting and talented young player.
“It has been a long and drawn out saga so I’m glad that the matter has been finally resolved. It is to the benefit of both clubs that we have been able to reach an agreement without the need for a tribunal.
“We were very disappointed to lose David as he is a player who should make a good name for himself in the future, but wish him every success.”
Premier and Nationwide League rules state that clubs who lose out-of-contract players under the age of 24 are entitled to receive compensation, as long as the player involved has received an offer of a new contract in writing.
Sunderland AFC offered David Bellion a new contract on greatly improved terms in accordance with these requirements. This was rejected.
The Football League Appeals Committee was scheduled to meet on Thursday October 16 in London to hear the case.
French striker Bellion was out of contract at the Stadium of Light when he finally moved to Manchester United on July 1 2003. Bellion was signed by Sunderland from Cannes in the summer of 2001.
