DAVID NEWTON admitted Boston United and Grimsby Town were poles apart in their valuation of Shaun Pearson after it was confirmed the defender's fee will be settled by tribunal.
As reported by the Echo earlier this month, Town bosses Rob Scott and Paul Hurst have won the race to sign the defender, who turned down a lucrative contract offer to stay with the Pilgrims.
As Pearson is under the age of 24, the Mariners must cough up a fee for the former Stamford ace.
But after the clubs failed to agree, the price will be settled by tribunal.
"They first submitted an offer on June 9 which we felt was way too low," explained Newton. "We suggested a different figure, but they were not going to budge from their initial fee.
"We never even got into a negotiation, so we're going to a tribunal.
"We want what is best for Shaun and Boston United."
The Pilgrims and the Mariners are already at loggerheads over Scott and Hurst's controversial cross-county switch.
Newton is taking the pair, and the Mariners, to court over the affair and is seeking compensation.
The Mariners have been issued with legal papers and have until July 7 to register their defence.
However, the Pilgrims chief insisted those tensions did not cause the deadlock over Pearson.
Boston will also receive compensation for Anthony Church once he finds a new club.
The midfielder also rejected a new contract with Boston after completing his studies at Loughborough University.
Church (pictured) is on the lookout for a club closer to his native London.
Newton is disappointed to lose the influential pair, but has been happy with the business conducted by joint-managers Jason Lee and Lee Canoville this summer.
The Pilgrims have signed defender Kevin Austin and Jordan Fairclough, midfielder Chris Hall and striker Mikel Suarez so far, with more new arrivals on the way.
However, Newton insists the club are in no rush to add to their squad.
“Jason and Lee have had a few players contact them who they are going to have a look at in pre-season,” said Newton.
“We all know it’s very important that we retain the bond that the squad had last season, so we are certainly in no rush at the moment (to make signings).”