Town MD Ian Milne has confirmed that the cash received from the sale of left-back Tyrone Mings to AFC Bournemouth last week will be reinvested into Mick McCarthy’s first-team squad.

The 22-year-old was sold for an initially £8 million - the majority paid up front and the rest in instalments - with the overall fee potentially rising to £10 million once top-up clauses - likely to relate to appearances and future international recognition - are triggered. The deal also included a sell-on.

“We received a substantial amount of money for Tyrone and having spoken to [owner] Marcus [Evans] we both realise that it’s important we reinvest that money back into the team,” the Blues MD told the club site.

“It’s a shame to see Tyrone leave but it was a fantastic offer put to us by Bournemouth, especially with Ryan Fraser and Brett Pitman joining us as well, and it’s a great opportunity for Tyrone himself.

“Tyrone goes with our best wishes and I’m sure he will do well in the Premier League. Hopefully next season we can join him there.

“To do that we realise we need to give Mick as much backing and support as we can and that is why we will continue to invest in the first-team squad and the Mings sale will substantially help in building that investment.”

Meanwhile, the traditional first day of pre-season photo call and press conference with manager McCarthy will now take place on Tuesday morning, not this morning as initially planned.

While a number of players were in for testing this morning, the full squad won't be back to begin their 2015/16 preparations until tomorrow.

Arsenal youngster Ainsley Maitland-Niles, whose signing on a season-long loan is close to being formalised, will be amongst those at Playford Road, but Daryl Murphy, David McGoldrick, Christophe Berra and Kevin Bru have been given extra time off having been away on international duty.

Photo: Action Images

Snitterfield added 20:41 - Jun 29 I will believe it when the money is spent. Talk is cheap and promises have been made in the past. Come on Town it is time to splash the cash.
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blue_movies added 21:26 - Jun 29 never trust a man who talks finance but wears an Oxfam suit
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battyblue added 05:41 - Jun 30 Mick still has to fit in his favorites don't forget so cant see the right back position changing Chambers is there to Hoof not much else certainly not to carry the ball forward and not to impressive with his tackling at times this position need addressing. Tommy Smith how ever hard he tries does not work along side Chris Berra also need addressing one way or another and i still like Chambers/Berra in the center which is why we need a right back to play at right back the defense is our weak spot now for a good chance of promotion we must sort this at the start of the new season remember build from the back MM.

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BrettenhamBlue added 05:59 - Jun 30 Agree right-back is a priority but we also badly need a left-back. Having watched Parr at left-back 3 times its obvious he's better in midfield. We've lost a lot of players, which gives MM a chance to really build a squad. GK is needed. No other squad has 2 GK's and we've lost Paddy Kenny. Right-back left-back 2 Creative midfielders We can then utilise other players we already have and give them a chance in the first team (henshall, McDonnell, Connolly, Stewart, McQueen (or have we lost him too) etc.

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BrettenhamBlue added 06:13 - Jun 30 http://www.buryfreepress.co.uk/sport/football/needham-market-teenager-ace-howell I am assuming we still have Ace Howells? His contract is up at the end of June.
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Sospiri added 08:16 - Jun 30 Mick has shown that he can do well on little money. The owner will have noted this. He will think this is the year to take a punt, and spend a little cash for the hope of the big financial prize. Interesting times ahead. for all who follow the Town.
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Gazelle added 08:49 - Jun 30 If we were to concentrate on playing more attractive football for a change we could gain another 5000 on the gate, that's an extra £100k or more every home game.
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Pilgrimblue added 09:34 - Jun 30 I don't doubt that MM will get all Mings money but it wont just be in transfer fees but also in wages to attract the right sort of player. I'd get Southend keeper for starters. Maybe MM will have another look at that left back that was here last season. But i'd hope that most gets spent on attacking/creative midfielder
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yorksblue added 10:51 - Jun 30 I read that Neil Alexander went on loan to Scummers. Clearly, homesickness doesn't apply when in London and Narfook
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