ROTHERHAM United will receive no financial reward following Matt Olosunde’s decision to sign for Preston North End.
The 23-year-old right-back, who had turned down a new deal with the Millers, moved to Deepdale last week after the expiry of his two-year contract at AESSEAL New York Stadium.
When a player under the age of 24 switches teams the club he is leaving is normally entitled to compensation from his new side.
However, as a consequence of their relegation to League One, Rotherham’s offer to Olosunde had been for less money than he was already earning.
That means the Championship Lilywhites will escape having to pay the Millers anything for his services.
Rotherham would have had to have offered the American defender the same deal he’d been on or a better one to be in line for remuneration.
The amount, intended to cover what the Millers have contributed to Olosunde’s development, would have been nominal and nowhere near the size of a transfer fee.
The player, a promotion-winner in his first year in South Yorkshire, used his Instagram account to praise Rotherham for whom he made more than 70 appearances after his release from Manchester United in 2019.
“I want to thank everyone the club for the past two years I’ve spent there,” he said. “From the highs to the lows, it’s been a pleasure working with the staff and players every day. I’ve made friends and memories I won’t forget.
“A special thank you for the constant support from an amazing fan base throughout.”
Olosunde, who was often used by Rotherham in a wing-back role, had been on Preston’s radar since the turn of the year.
They checked him during the January transfer window and made their move when he rejected fresh terms at New York.
Negotiations with his US-based father, who acts as his agent, had begun in the first half of June, leading to last Wednesday evening’s announcement that a two-year contract had been signed.
Preston head coach Frankie McAvoy said: “Matt’s a player we’ve had an eye on for a while. We’ve watched him progressing at Rotherham. He’s got great energy and athleticism to get up and down the righ side.”
Millers boss Paul Warne said: “We worked on making Matt a better player than when he joined and I hope that he agrees that we have been successful.
“He is a good lad who has grown in confidence on the pitch and off it and I hope that our footballing paths cross again.”