Exeter City expects sell-on funds from the Ollie Watkins transfer

Exeter City has informed supporters that financial gains from the sale of Ollie Watkins to Al-Hilal will be used to secure the club's long-term future. The former academy graduate completed a £51 million move to the Saudi Arabian club on Sunday. While the League Two side confirmed they are entitled to a sell-on payment via Fifa solidarity mechanisms, they are currently awaiting details regarding the specific amount and payment schedule. Club officials stated that funds are not expected before the conclusion of the current transfer window and could be distributed in installments. The organization previously relied on owner loans and a lucrative FA Cup draw against Manchester City to address budget shortfalls last season. The club intends to allocate these incoming proceeds to bolster financial stability following recent staff redundancies.

• 11:40 AMYahoo Sports — Exeter say Watkins sell-on bonus will 'protect' club's future