Chairman Kelvin Thomas says claims that Oxford United paid Peterborough £50,000 to land winger Alfie Potter are “wide of the mark”.

Potter, 21, joined the U’s permanently last month for an undisclosed fee, after initially coming to the Kassam Stadium on a season-long loan from Posh in June 2009.

A report in the Peterborough Evening Telegraph claimed Posh’s director of football, Barry Fry, had revealed Oxford paid £50,000 to secure Potter’s services.

But Thomas said: “The fee mentioned is well off the mark. The actual transfer fee for Alfie was £10,000, plus 25 per cent of any sell-on.

“Because Alfie is under 23, there was always going to be some fee or compensation. And we feel that the fee we paid for Alfie is good business in terms in what he can do for us.”