Lincoln City unable to cash in on Lee Frecklington's move to Rotherham United
Lincoln City will not receive any money as a result of Lee Frecklington's move to Rotherham United from Peterborough United.
Frecklington left Lincoln for Posh in 2009, but joined the League Two Millers for an undisclosed fee last week.
City did not have a sell-on clause in the deal having opted for bonus payments if Posh were promoted.
It is understood Lincoln earned in excess of £100,000 as Posh climbed to League One and received an even bigger fee when they reached the Championship.
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Lincoln chief executive Steve Prescott said: "The club will not receive any money from Lee's move to Rotherham.
"The deal which was struck by a previous regime meant we received money every time Peterborough won promotion.
"As you can imagine we have done quite well out of it."