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8:20am Wednesday 31st January 2007 in
Julian Rhodes today defended City's decision to cash in on Jermaine Johnson.
The Jamaican's move to Sheffield Wednesday has triggered further controversy after Dean Windass was allowed to join Hull on loan.
It is thought that the double deal has netted the club around £500,000 - with the prospect of more to come if Johnson is a hit at Hillsborough.
The undisclosed fee for Johnson includes performance-based add-ons - such as winning promotion - and a percentage of any future transfer, which could take it past the half-million pound clause that had been written into the winger's contract at Valley Parade.
Due to a change in my own personal financial circumstances, I’m no longer in a position to continue future funding
Julian Rhodes
Rhodes said: "There was a figure that we had to sell him at and the guaranteed element of the deal is very close to that.
"But I've substituted the rest of the balance in favour of incentive-based clauses which can result in us getting more than what we would have done. It's been done on the basis that I'm sure Jermaine will be a huge success for them."
Even with the transfer-window sales, Rhodes predicts City will lose up to £600,000 in the financial year. He is still aiming to break even during next season but cost-cutting measures have to be taken.
The Bantams chairman has already stated that he cannot throw any more money at the club. The Rhodes family also found out on Monday that they will receive a lot less from a shareholders' pay-out by Saltaire electronics firm Filtronic than had been promised.
He admitted: "Due to a change in my own personal financial circumstances, I'm no longer in a position to continue future funding."
Johnson's departure leaves Colin Todd's squad shorn of another key player - and the City boss fears it will make his own job tougher.
Todd, who is hunting loan cover, said: "Like with Windass, it's a financial decision and not a football one and I have to play my cards accordingly.
"We should be keeping our better players but the chairman has the final say and he is obviously influenced by the financial state of play, which isn't good.
"But life becomes more difficult for ourselves on the football side of it.
"Once again I've resurrected someone else's career. JJ has been a breath of fresh air to this football club. He is a big loss to me as a manager and the other players. In 31 games he has shown sparkle and the ability to hurt the opposition.
"We have to applaud his talent that has made him very popular with our supporters, who have really taken to him. But I wish him all the best at his new club."
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