Fulham have revealed they will receive a record fee for a 16-year-old from Liverpool for Harvey Elliott.

It comes as the club revealed the outcome of the tribunal held to determine the fee owed to Fulham following the departure of Elliott in 2016.

Elliott was signed by the Premier League champions from Fulham in 2019, but had not receive any fee for the move which took the talented teenager to Anfield, and subsequently loaned out to Rovers.

By then Elliott he had become the youngest ever Premier League player when making his debut for the club in 2019 aged just 16 years and 30 days old.

A club statement said the figure determined by the Professional Football Compensation Committee was the highest set for a 16-year-old, with that said to up to £4.3 should certain clauses be met.

That includes Elliott playing over 100 times for Liverpool, earning England recognition and signing another contract with the club. However, what is likely to be the most profitable part for Fulham is the 20 per cent sell-on clause included.

While the Cottagers were said to be holding out for up to £10m, they have revealed they are pleased at the outcome.

A statement read: “The Professional Football Compensation Committee has today given its decision with regards to the compensation payable following Harvey Elliott’s move to Liverpool in 2019.

“Under the Youth Development Rules, the PFCC is tasked with assessing the compensation due for a player who leaves an Academy at the end of his registration, if the parties cannot agree the figure between themselves.  

“After a full hearing, the PFCC has decided that Fulham should be entitled to substantial compensation. 

“The award (undisclosed) is a record amount for a 16-year-old player and, in the circumstances, Fulham is very pleased and thanks the PFCC for its careful consideration of the arguments we put forward.”

Elliott signed for Rovers on deadline day in October and hasn’t missed a game since, playing 22 times in the Championship and scoring four times.

He will spend the remainder of the season at Ewood Park before returning to his parent club in the summer when looking to cement his place in the senior squad.

Reports suggest Liverpool are set to reward him with a new long-term contract upon his return to Anfield.