Tribunal set transfer fee for Scunthorpe's Jimmy Ryan

Ryan's second game for Scunthorpe was against Accrington

Scunthorpe United could pay Accrington Stanley up to £195,000 for midfielder Jimmy Ryan, a tribunal has ruled.

United must pay £55,000 immediately, with performance-related clauses and a 20% sell-on fee also set.

Ryan was out of contract in the summer, but Stanley were entitled to compensation as he is under 24.

United official David Beeby told the club website: "We would have liked the fee to have been smaller but Accrington also wanted the fee to be much higher."

The general manager added: "I don't think either party leaves a tribunal entirely happy because they normally set a figure between what has been offered and what the selling club is asking.

RYAN FEE £55,000 immediately £27,500 on 1 October 2011 £27,500 on 1 January 2012 £15,000 after 15, 30, 45 and 60 appearances £25,000 if Scunthorpe are promoted to the Championship in 2011-12 or 2012-13 20% sell-on any fee received over and above that already paid to Accrington Stanley

"The good thing is that the fee has now been set and the two clubs and the player can move on."

The 22-year-old signed a two year deal with Scunthorpe after spending three seasons with Accrington.

The former Republic of Ireland under-21 international began his career with Liverpool and was part of the sides which won the FA Youth Cup in both 2006 and 2007.

So far this season the former Shrewsbury player has made a total of six appearances for the Iron.