Exeter City is due a financial benefit from Jay Stansfield’s 2024 move from Fulham to Birmingham City because Exeter’s 2019 agreement with Fulham included a sell-on provision. Exeter has not disclosed the clause’s percentage or total value. The £985,000 reported in Exeter’s 2025 accounts was a financing receipt linked to future sell-on proceeds—not the confirmed value of the clause or a direct payment from Birmingham.
Why Exeter City is entitled to money
When Exeter accepted Fulham’s offer for academy scholar Jay Stansfield in August 2019, it said the deal included add-ons and a sell-on provision, while keeping the fee undisclosed. That earlier agreement is the basis for Exeter’s benefit when Fulham later sold Stansfield to Birmingham. Exeter was not a party to the 2024 transfer itself. Exeter City’s 2019 announcement
Stansfield returned to Exeter on loan for the 2022–23 season. BBC Sport reported he scored 13 goals in 47 appearances during that spell. Birmingham then signed him permanently from Fulham on deadline day in August 2024. BBC Sport’s report on the transfer
How much will Exeter get?
The exact sell-on percentage and total entitlement have not been made public. On 2 September 2024, Exeter confirmed that the transfer would bring the club a financial benefit, but said the agreement’s details were confidential and payments would be structured over an extended period. Exeter City’s 2024 statement
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BBC Sport reported Birmingham’s fee as more than £10 million in 2024. Its 2026 report described the fee as reportedly £15 million. Those are reported figures for Birmingham’s purchase from Fulham; neither establishes how much Exeter is owed or has collected. BBC Sport, 2024; BBC Sport, 2026
Exeter’s 15% sell-on clause in Ollie Watkins’s separate move to Aston Villa is not a basis for calculating Stansfield’s clause. The club has not confirmed that the Stansfield terms used the same percentage.
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What the £985,000 figure means
BBC Sport reported on 27 March 2026 that Exeter’s accounts showed £985,000 received from Close Brothers Leasing in connection with factoring the future Stansfield sell-on proceeds. Factoring means obtaining money sooner against future proceeds; the reported figure is therefore a financing receipt linked to the clause, not a disclosed total entitlement. It should not be described as the full sell-on payment or assumed to have come directly from Birmingham. BBC Sport’s 2026 accounts report
There was also earlier reporting about payment timing. On 5 December 2025, BBC Sport reported that some deferred transfer monies had been paid early, but did not identify the amount received in that transaction or which club paid it. The report does not establish how that early payment relates to the later-disclosed factoring receipt. BBC Sport, December 2025
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Keep the reported figures separate
| Figure | What it describes | What it does not establish |
|---|---|---|
| More than £10 million | BBC Sport’s 2024 report of Birmingham’s fee for Stansfield. | Exeter’s receipt or sell-on percentage. |
| Reportedly £15 million | BBC Sport’s 2026 description of Birmingham’s transfer fee. | Exeter’s receipt or the final value of its clause. |
| £985,000 | BBC Sport’s account of money Exeter received from Close Brothers Leasing in connection with factoring future Stansfield sell-on proceeds. | The clause’s total value, total collected, or a direct Birmingham payment. |
| More than £5 million | BBC Sport’s 2025 report of Exeter’s expected income from multiple player sales from July 2023 onward, payable over several years. | Stansfield-only income. |
The figures relate to different transactions, periods and measures. They cannot be added together to produce a reliable total for Exeter’s Stansfield windfall. BBC Sport, 2024; BBC Sport, 2025; BBC Sport, 2026; BBC Sport, 2025
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the money means for Exeter’s finances
The sell-on proceeds arrived against a difficult financial backdrop, but the reported financing receipt does not show that Exeter’s broader pressures have been resolved. BBC Sport reported a profit of just under £350,000 for the financial year ending 30 June 2025, alongside continuing budget pressure and reliance on Trust support. That profit is a result for the whole reporting year, not a measure of the Stansfield clause alone. BBC Sport’s 2026 accounts report
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Companies House lists Exeter City A.F.C. Limited accounts for the year ended 30 June 2025, filed on 27 March 2026, and amended accounts filed on 1 May 2026. Companies House filing history
Exeter manager Gary Caldwell told BBC Sport in September 2024 that the club could not rely on or predict sell-on income, since the timing depends on whether and when a player is sold on and how his career develops. That uncertainty is central to understanding why clubs may value an advance against future proceeds even when it means the cash received at that point is not the clause’s full value. BBC Sport, September 2024
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