Vice-Chairman Ehab Allam said: “The Club is naturally disappointed to lose a home-grown product of its Academy. We have met with Josh and his representatives on numerous occasions starting back in January 2016 with improved offers of a professional contract. I want to make clear that we have made offers significantly higher than the figures circulated by some media sources.
“The Club has played a significant role in Josh’s development as a player who joined us at the age of 12 and has risen through our ranks to play for England at U17, U18 and U20 level and in the Premier League. I believe he will one day be a full England international and I take pride in the work the Club has done to make that possible. This also makes it even more difficult to take having invested so heavily in his development through the excellent Academy set-up we have. We had hoped that Josh would remain with us to realise his potential.
“As stated by Leonid in his press conference today, we are working very hard to bring new players into the Club with news hopefully by the end of the week. This process can take time and as much as we would like all business completed immediately, some deals take longer due to the complex nature of the transfer window. New additions will be made to the squad to help towards our aim of a return to the Premier League.
“We wish Josh well for the future.”