"We were all delighted to see that Nicky Bailey has got his wish to play at a higher level with his transfer to Southend United. When he made his Ryman League debut whilst still in our youth team, it was obvious that he had the ability to go a lot further in the game and I'm sure he still has his sights set on getting to the Championship or better. Nicky joined Barnet under the Bosman Rule and so his fee was set by an FA tribunal at just £10,000 plus a 25% sell-on clause. Obviously that clause has now been triggered and it comes at a most opportune time for us, after two seasons without a major sponsor and no significant income from the FA Cup. We will seek confirmation of the exact terms of Nicky's transfer from the FA and Barnet FC, as many modern transfers involve staged payments rather than a single amount upfront. If the reported figure is correct, then our share of Nicky's transfer fee will go a long way towards meeting the shortfall in our revenue and allows us to plan for the new season with a much greater degree of certainty, without obviating the need to further increase our income through sponsorship and other avenues."