Ipswich blame relegation for ‘painful decision’ to sell Holland
The two clubs yesterday agreed a fee, believed to be in the region of £4 million, for the Republic of Ireland midfielder who is currently on international duty in Helsinki.
Sheepshanks said they did not want to sell one of their prized assets especially after Titus Bramble's departure to Newcastle in the summer for £5million but off-the-field pressures forced their hand. ''We have most reluctantly agreed a fee with Aston Villa for Matt Holland,'' Sheepshanks said. ''It is the consequence of relegation at a time that the football market is depressed.
''Since our relegation we undertook to inform Matt of any Premiership interest. He will meet with Aston Villa on his return to the UK. His agent is already in discussion with them.
''As agonising and painful as this decision has been for the directors, George Burley and myself, this sale was a necessity and it helps to stabilise our financial position.
''I know all supporters will share our dismay at having to part with such a special player, however, I warned in the middle of last season and on many occasions since of the serious consequences of relegation for our club.
''Nothing which has happened since our demotion in May has altered my original judgement.''
The player himself was acutely aware of the financial situation the club is in and was realistic about the decision to sell him.
''Unfortunately, although I know the club does not want to sell me, the reality of the balance sheet is that money needs to be raised,'' said Holland.
''I will properly examine the situation when I return tomorrow. It is my only sensible course of action because I can then sit down with the relevant people and find out exactly what has been and is going on.
''As ever, though, it is very flattering to be wanted.''
Ipswich manager Burley accepted the inevitable, saying: ''The reality of the situation is that we have to listen to offers.
''I would love to keep all my players but in the present financial climate that is not possible.''
Sheepshanks blamed the loss of television revenue following their relegation from the Premiership last season for the club's selling policy.
''The stark facts are that our television income last year amounted to over £20 million this year in the football league it is unlikely to amount to more than £750,000 a gap of nearly £20 million,'' he said. ''We receive a parachute of approximately £5 million, which bridges only a quarter of the shortfall and even less when the inevitable decline of commercial income is added to the equation.
''In anybody's language this is a gap of £15 million. Banks are not charities and there are strict limits. We have therefore explored all options and taken steps to close this gap. but it was always going to necessitate the sale of players.
''We negotiated to achieve the highest prices possible but supporters will understand there was no competition from other clubs bidding.
''In other words, the Villa bid for Matt Holland was the only bid on the table,'' Sheepshanks said.
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