News: Everton Get Garbutt Decision
By Big Andy
September 8 2009
Everton have been told they must pay an initial £600,000 to Leeds United for teenage defender Luke Garbutt.
Everton chairman Ken Bates was very annoyed about the deal at the time; the 16-year-old joined the Toffees in July.
But at a tribunal, Everton have been ordered to pay an initial £600,000 rising to £750,000 depending on appearances.
Leeds will also receive 20 per cent of any profit should Everton sell on the player.
"This is very much a transfer for the future for Everton. It's not an uncommon move to make - many Premier League clubs invest in young talent with a view to nurturing and developing them," Everton's academy manager Ray Hall told the club's official website.
"We're all delighted to have Luke at the club. He is an excellent prospect and he will be allowed to mature and learn his trade with our academy staff and players.
"I know the manager will be keeping an eye on his progress - as he does with all our boys - and if he looks ready to make the next step up then he may get his chance.
"We have shown as a club on a regular basis that we are prepared to give youngsters an opportunity at Everton."