Crystal Palace chairman Simon Jordan has blasted a Football League tribunal after they told Tottenham to pay £700,000 for starlet John Bostock.

Jordan had hoped to get up to £5million for the 16-year-old midfielder, who was also wanted by Chelsea and Barcelona.

The fee could still go up to £1.25m depending on appearances but it is small comfort to Jordan, having seen Bostock progress through Palace's academy only for him to join Spurs where he will be paid £7,000 a week.

Jordan said: "For a tribunal to reward a purportedly bigger football club in Tottenham to take one of the most gifted young English players in the country for a sum of £700,000 is nothing short of scandalous.

"I feel mugged and brutalised. The tribunal are supposed to reflect the conditions of the transfer market place. And they came up with a figure of £700,000 for a player who captained his country at Under-17 level and is one of the best youngsters in the country.

"We had a £900,000 offer from Chelsea when he was 14 which we turned down. It makes me question why I bother with football."

Jordan was also angry when a tribunal ordered Spurs to pay £1.25m for Wayne Routledge in 2005 when Palace wanted £3m.