Eastbourne Eagles promoter Bob Dugard says he is delighted with the £29,000 fee the club will receive from Coventry Bees for Edward Kennett.

The Arlington chief attended an arbitration hearing yesterday to thrash out a transfer fee after Coventry offered £15,000 for a rider Eagles valued at £40,000.

Kennett, 22, has been riding for Bees this season after requesting a move during the winter and is one of the top riders in the country at present according to the averages.

Dugard said: “The meeting was at 10.30am this morning and when I got back to my desk at 4pm there was an email waiting which said they have fixed a fee of £29,000 plus VAT.

“We asked for £40,000 and they offered £15,000 so the transfer fee favours us and is in our balance “We feel totally vindicated in asking for our fee and I’m delighted.

“It’s not like football so we’re not talking those sort of numbers but it’s probably the biggest fee in the sport for a while.”

He added: “The matter is totally settled now and I just want my money. I have already sent off an invoice.

“A fee should have been paid before the start of the season but that was delayed by the arbitration.

“I am hoping they will now pay up quickly.”

Dugard had threatened to scrap Eagles’ famed junior track if he did not get a realistic fee for Kennett.

The Arlington chief said he would have no interest in bringing through young riders who could then be taken by other clubs at bargain prices.