Pugh has already played three games for Bournemouth, scoring once

Hereford manager Simon Davey says the club are satisfied with the transfer fee they are to receive for Marc Pugh.

A tribunal ordered Bournemouth to pay £60,000, with a possible further £40,000 depending on appearances and 10% of the profit on any transfer.

Davey said: "I think they have come to the right decision after hearing my and [chairman] David [Keyte's] evidence.

"They spoke to the player and to Bournemouth and I believe it is a fair and appropriate decision."

Pugh left Edgar Street for the Cherries during the summer and the clubs were unable to agree on a fee for him so the matter then went to a tribunal.

We are just pleased we have received the figure we did Hereford manager Simon Davey

In addition to the initial fee the hearing ruled United will be entitled to additional £10,000 payments when Pugh has made 15, 30, 45 and 60 appearances for his new club.

Davey felt the panel had considered the facts and come to a reasonable decision based on the evidence at their disposal.

"That sum was put in our budget as that was what we felt we would receive," he told BBC Hereford & Worcester.

"Bournemouth have been quoted as saying they are very disappointed in the verdict as they believe they had an agreement with the previous regime but that was not what we were led to believe.

"From my years as a manager coming into the club and seeing Marc Pugh sign on 4 June at Bournemouth was a bit of a shock when apparently you are only supposed to sign them on 1 July," he added.

Davey says it is unlikely the potential windfall will enable him to immediately strengthen his squad.

"It has no effect on my budget as when I spoke to the chairman he had budgeted for that figure," he said.

"If we hadn't attained that figure it wouldn't have affected my budget in any way so there is neither a plus or minus effect.

"But we are just pleased we have received the figure we did."

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