Everton reveal Garbutt compensation fee

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The tribunal held on Monday came to the decision on compensation for the England Youth international, who joined Everton earlier in the summer.

The fee could rise to over £1.5m due to various add-ons including appearances, honours and international caps.

Everton are believed to have initially offered £200,000 for the former Leeds academy product.

Both clubs agreed that a figure would be set by a tribunal of the Professional Football Negotiating and Consultative Committee (PFCC), which is made up of representatives from the Football League, Premier League, PFA and Football Association.

The hearing, which took place at the Premier League's offices in London on Monday, declared that Everton should pay an initial £600,000, which could rise by an additional £750,000 depending on appearances.

There will be a further additional payment of £200,000 if the player makes a senior international appearance, while Leeds would also receive 20 per cent of any profit should Garbutt be sold on.

The Harrogate-born left-back is currently part of Everton's Under-18 set-up and has England Under-17 honours as well as reserve team experience for the Toffees already this season.

Everton's academy manager Ray Hall said: "This is very much a transfer for the future for Everton. It's not an uncommon move to make - many Premier League clubs invest in young talent with a view to nurturing and developing them.

"We are all delighted to have Luke at the club. He is an excellent prospect and he will be allowed to mature and learn his trade with our academy staff and players."