Preston North End buy-out Cork City's sell on clauses for star players in deal to help the Irish club
Sean Maguire is congratulated by team-mate Troy Parrott, left, and Alan Browne, right, after scoring his side's second goal during the match between Republic of Ireland and New Zealand. (Photo By Seb Daly/Sportsfile via Getty Images)

As part of a deal to help out League Of Ireland club Cork City, the sell on clauses for both Sean Maguire and Alan Browne have been bought out by Preston North End, who will now receive the full fee should they receive any money for either player.

It is believed that the amount paid by the Championship club was just under £500,000, which suits North End, with Browne in particular thought to be worth a decent amount of money in the current market.

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According to the Lancashire Evening Post, a club source has confirmed that this is not a sign that PNE have any intentions of selling either of the Republic of Ireland internationals, but is instead a good bit of business should they do so, whilst also helping out a club with whom they have a strong connection with.

The Rebels were in need of the financial help because they had an outstanding bill owed to the Revenue, whilst the FAI informed them that if a payment wasn't made, a licence would not be granted for them to compete in 2020. 

As a result of that, they approached the Lilywhites to sell their clauses for the agreed sum.

Peter Ridsdale, who is the advisor to PNE owner Trevor Hemmings, travelled last week to meet Cork officials alongside finance director Kevin Abbott, where they agreed a deal to buy-out Maguire's 15% sell- on clause, as well as Browne's, which was 12.5%.

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The Championship promotion hopefuls have bought a number of players from Cork in recent seasons, and travelled to play them at Turners Cross for pre-season in August, after training in that part of Ireland for a summer training camp over the last few years.

In a statement, the Cork City board said it it had "come to an agreement with Preston North End for the sale of the sell-on clauses for each of Alan Browne and Sean Maguire, which aided the club in securing its Premier Division license for 2020.

"The board will continue to work in the best interests of Cork City Football Club and its members, which includes the exploration of any/all potential funding opportunities for the football club, which are ongoing.

"Our main focus should now turn to supporting our manager, Neale Fenn, and his young and hungry squad as they take on Shelbourne tomorrow night."

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The Irish club also dismissed rumours that Hemmings could well complete a takeover at Cork, whilst thanking the North West club for their part in the deal.

"The board also wish to confirm that CCFC have not entered into a formal partnership with Preston North End, and any further decisions will be voted upon by the membership. That being said, we would like to thank Preston North End and their associates for their endeavors to get this transfer deal over the line over the past number of days."

Both Maguire and Browne will see their current deals with Preston expire in June 2021, so a decision on their future will be made sooner rather than later.