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Everton have continued their youth recruitment policy by signing Fraser Hornby from Northampton Town.
The 15 year old has joined under the Elite Player Performance Plan and The Cobblers will receive an initial £65,500 and a maximum of up to £1.3m in the future, depending on first team appearances.
EPPP was voted in by clubs in 2011 in order to replace the old, and often maligned tribunal system that was in place. Everton will have to pay £150,000 for every 10 Premier League appearances played by the teenager, up until 60 games. They will then pay £100,000 for every further 10 appearances, up to 100 games.
Hornby joins several other youngsters who have joined over the summer period and gone straight in to the clubs youth sides, including Brendan Galloway, Sam Byrne and the loan deal for David Henen.
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