BILLERICAY Town owner Glenn Tamplin says winger Jermaine Pennant will be remaining at the club...just 24 hours after telling the Echo the player was leaving.

Tamplin said the former Champions League finalist had agreed to a pay cut in order to remain on Town's books.

He added that the club was renegotiating a number of contracts ahead of the new season, with the majority of the players set to earn less than they do on they current deals.

"I want to make the club sustainable," said Tamplin."I am re-negotiating contracts for next year and the players will not be on what they are on this year.

"So to be fair to Jermaine he has agreed to take a wage cut and that is massive. He wants to be a Billericay player."

Pennant, formerly of Arsenal and Liverpool, joined the Isthmian Premier League club at the start of the season to the shock of the football community.