BRAINTREE Town chairman Lee Harding has said any compensation money the club receive from the move of goalkeeper Ben Killip to Hartlepool United will be reinvested in the first-team playing budget.

It was confirmed last week that the 23-year-old keeper wouldn't be rejoining Braintree next season after opting to remain in the Vanarama National League by signing for the Pools.

But as Killip had been made an offer of re-engagement by the Iron, a compensation payment may be coming their way and Harding said any cash would go into next season's playing budget.

Following the departure of boss Danny Searle, the club have not announced yet who will be the new manager who will be spending any money, but Harding said the matter had been discussed with applicants who had been spoken to in the ongoing interview process.

The Iron chairman said: "In speaking with people who have applied (to be manager), we have talked about the budget and I've made it clear that any windfalls the club receives gets invested in the team.

"It works in the opposite way that if we buy a player then that has to come out of the budget, so any proceeds coming from players leaving goes back into it.

"If we receive ten to 15 thousand pounds then I'm sure that will be very welcome."

While it was ultimately unsuccessful, Killip formed an integral part of the Iron's battle to stay in the top-flight of non-league football last year, finishing the season as captain of the side after making 38 appearances and keeping ten clean sheets for the Iron.

Killip’s good form for Braintree was also rewarded at international level as he won two caps for Paul Fairclough’s England C team, playing in games against Estonia Under-23s and Wales.

The keeper said in an interview with the Times that being given the chance to join Braintree by the then manager Brad Quinton had offered him a chance to re-ignite his career after leaving Grimsby Town last summer.

After his second England call-up, Killip admitted that he "didn’t have much else on the table at the start of the season" so was pleased to get his chance with Braintree.

And Harding believes the role the Iron have played in his career means compensation may be coming from Hartlepool, although he is hoping a payment can be settled directly between the clubs rather than having to be decided by an FA tribunal.

Harding added: "Hopefully we can negotiate with Hartlepool with something that is mutually acceptable.

"If not then it would have to go to a tribunal, but I think Ben himself would agree that we turned his career around after being released by Grimsby.

"He hit the ground running with us and over the course of the following months we invested a lot of time and effort in him, from which both parties reaped the dividends - he kept ten clean sheets, was made captain of the side and had two England call-ups.

"There was a lot of interest in him but he has opted to go to Hartlepool and I really do wish him all the best, but we are looking for compensation."