FORMER Colchester United favourite Sammie Szmodics has signed for Peterborough United for an undisclosed fee on a four-year contract.

And that could mean good news for the U's, who are set to benefit from a sell-on fee following the former Stanway School pupil's switch to London Road, which is believed to be for a fee in the region of £1m.

Szmodics has left Championship club Bristol City to join Posh where he enjoyed a successful loan spell in League One last season.

The 24-year-old scored 40 goals in 165 career games for Colchester, who could now receive a healthy sell-on fee if, as expected, they factored that into the deal when they sold Szmodics to the Robins, last summer.

Speaking at last summer's Colchester United Open Day, little more than a fortnight after Szmodics left for pastures new, U's chairman Robbie Cowling said: "In the Premiership, a lot of the money is about what the players are sold or bought for.

"But where we are as a club, we're not just interested in just what we get for say, Sammie Szmodics now.

"We structured a deal with Bristol (City) that gives us sell ons, gives us money if he's named in certain teams of the year and how he does.

"So we've got a lot of different ways of how the club can earn into the future, out of Sammie doing well."

Szmodics' future at Bristol City had been unclear, following the appointment of Dean Holden as manager.

Last season, the former U's academy product made only three league appearances for the Robins.

He did not play a full 90 minutes in any of the three matches and has so far played only 116 minutes of league football for the Championship side.

Szmodics told the Peterborough website: “I am delighted to be back.

“I feel there is a bit of unfinished business from last season. We were going so well and I was really enjoying my football.

“I went back to Bristol City for pre-season, but Dean Holden the gaffer there was very honest with me and when I knew that I was able to leave, I spoke to my agent about speaking to Darragh and Peterborough. I can’t wait to get started.”

Szmodics scored four goals in ten games for Peterborough during his loan spell with the club, last season.

Posh manager Darren Ferguson told the club's website: “It is a really big signing for us.

"I know there was interest from several clubs in our league but he always said if he was going to sign for a club in League One, it would be us, and credit to him because he has stuck to his word.

"I think it has been a relentless effort from Darragh to get this done so you have to say well done to him for going that extra mile to get this over the line on a permanent basis.

“The boy was adamant he wanted to come here, and I am really looking forward to working with him again.

"We will assess him today in training and see where he is at fitness wise, but it is great to get him in the building."