The Professional Football Compensation Committee ruled that the Reds must pay a basic fee of £1.2m for Elliott, who made the move north to Anfield in July 2019, and the fee could rise by another £2.6m based on first-team appearances and international recognition. There are also payments due for Elliott signing contracts with Liverpool.
“I suppose disappointed in it all, really,” Parker said when asked about the ruling.
“This is a player who had been developed at this football club for a long, long time. I think he was our youngest ever player. We gave him his debut.
“You don’t want to go and spend £20-30m on players, that’s why the academy for us is so important. Because you want to develop these players.
“We had developed that player for a big club to take him, and I understand that’s sometimes how it works. But certainly, I don’t know the exact numbers, but the numbers that have been suggested – I’d much rather (have) the player.
“£4m for a player we have developed, given his Premier League debut at such a tender age, he is one player that we thought the world of. And helped him in that process. To then leave like he did… and go to a tribunal where you get £4m, or up to £4m like has been suggested. It’s certainly from my position, it’s madness really.
“Because I think we all recognise, and I recognise that Harvey Elliott has the potential of being a top class football player. Liverpool have taken him off us for minimal numbers, for the potential of what Harvey is capable of.”
Additional reporting by PA.