Liverpool have been ordered to pay an initial fee of just £1.5 million to compensate Fulham following Harvey Elliott's 2019 transfer.
The Premier League clubs were referred to a tribunal to settle the conflict, which arose as Elliott was signed by the Reds when he was just 16 years old.
Liverpool have been ordered to pay a rather low "guaranteed" fee plus add-ons, which will possibly rise to £4.3m ($6m) depending on clauses being met, plus a 20% sell-on clause - which Goal understands is significantly less than Fulham had hoped for.
What's been said?
Despite reports suggesting they wanted a significantly larger fee for Elliot, Fulham expressed their satisfaction with the tribunal and its verdict.
The Cottagers said in a statement: "Under the Youth Development Rules, the Professional Football Compensation Committee (PFCC) is tasked with assessing the compensation due for a player who leaves an academy at the end of his registration, if the parties cannot agree the figure between themselves.
"After a full hearing, the PFCC has decided that Fulham should be entitled to substantial compensation.
"The award is a record amount for a 16-year-old player and, in the circumstances, Fulham is very pleased and thanks the PFCC for its careful consideration of the arguments we put forward."
Liverpool have also accepted the ruling, posting in a statement on their official website: “Liverpool Football Club respects the outcome of the PFCC’s fair and thorough process in this matter.
“We would like to thank the panel for their time and diligence in reaching a decision.
“We now look forward to welcoming Harvey back from his loan spell with Blackburn Rovers in the summer and helping him continue to build towards a long and successful career at Anfield.”
Who is Harvey Elliott?
Elliott caused a rift between the two sides when he moved to Liverpool from the Fulham academy at the age of 16 in the summer of 2019 having already made his first-team debut for the Cottagers.
Since they could not agree on suitable compensation for Fulham due to the loss of their young star, the case was passed to a tribunal to mediate.
According to reports, Liverpool offered £750,000 for the winger, now 17, while Fulham hoped for a fee closer to £8m.
Under the terms of Wednesday's verdict the west Londoners will be guaranteed £1.5m, while the total cost to Liverpool could rise to £4.3m depending on a number of bonuses tied to club and international performances.
Goal understands that Elliott would need to win an England cap and play 100 first team games for Liverpool in order for the £4.3m figure to be reached.
"It's fair to say that, for Liverpool, this is a very good outcome. Fulham had hoped for at least double the final fee, and perhaps even more.
"Given Elliott's record-breaking feats - he became the youngest ever Premier League player before he left Craven Cottage, and has since became the youngest player ever to start a game for Liverpool - and his excellent form for Blackburn this season, plenty expected them to get what they wanted.
"In the end, though, the fee looks heavily weighted in Liverpool's favour. Plenty of people at Anfield expect him to become a first teamer, even if the path is a very tough one to tread, and in years to come that £4m figure could well look slim. Indeed, Liverpool could likely sell him for much more than that already.
"They won't, though. He'll return to Anfield at the end of the season all the better for his experience in the Championship. Fulham's loss is very much Liverpool's gain."
Neil Jones, Liverpool correspondent