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The 48-year-old has a clause in his contract that entitles him to a fee when a player gets sold on and claims he is doing nothing wrong in receiving it

Blackpool manager Ian Holloway has said there is nothing wrong with the payments that he receives when one of the players in his squad is sold on.

The 48-year-old Bristolian revealed that when he first took the job as manager of the Bloomfield Road club his chairman could not afford to pay a substantial basic salary and so was offered a contract that enabled him to receive a payment whenever a member of his squad is sold on.

However, in a week in which it emerged that Tottenham manager Harry Redknapp received a bonus payment when he sold Peter Crouch at Portsmouth and Royal Bank of Scotland chief executive Stephen Hester was criticised for taking a bonus of nearly £1million, Holloway says he is doing nothing wrong.

“There were an awful lot of raised eyebrows when it was revealed that I receive a bonus payment every time the club sells a player at a profit. It led to a few accusations of a conflict of interest that left me incandescent with rage,” said Holloway, writing in his column for The Sunday Mirror

“How could I be doing anything wrong when the bonus clause was written into my contract by my chairman Karl Oyston when he offered me the job of Blackpool manager?

“Let me take you back to May 21, 2009, when Mr Oyston offered to bring an end to my year from hell. I had been out of work for 363 days after leaving Leicester.

"My CV meant absolutely nothing, I had got nowhere near landing any of the three or four jobs I had applied for, and here was the opportunity to rebuild my career.
“The only drawback was that the job at Blackpool was paying well below the going rate. The chairman understood my predicament. But he said to me, ‘Ollie, if you are successful here then I will make sure you get rewarded financially.

“At first, I was only paid a bonus if a player I had signed was sold. Now I get paid if any member of my squad is sold on.

“But my chairman does offer incentives. If we’re doing well towards the top of the league, or we get into the play-offs, or get promoted then I benefit financially.”

There is nothing illegal about the payments that Holloway receives from selling players on but during last years transfer saga involving Charlie Adam’s move to Liverpool, the manager was forced to deny allegations that he would sell a key player for his own personal benefit.

Holloway is adamant that he and the Blackpool chairman would never put their interests before that of the club and the notion he would sell one of his best players just for a bonus payment is ridiculous.

“I would never sell a player if the transfer would weaken my team unless I had to – either because it was for the benefit of the club, the player or both.

“If I started selling players just to pick up bonuses then I wouldn’t be in a job for very long because we would start losing games, tumble down the table, and pretty soon Blackpool would be searching for a new manager.”