Grimsby chairman John Fenty says they received a fair deal from Hull City for 15-year-old striker Jack Barlow.
Barlow, who played in a pre-season game for Town at the age of 14, had trials at Manchester City and United last season and joined Hull on Sunday.
He told BBC Radio Humberside: "What we've negotiated is potentially far better than if they'd just taken Jack and we'd ended up in a tribunal.
"When all said and done they had the ability to get Jack."
"In our view, what's on the table and what we've negotiated is better."
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