Keith Millen claims Bristol City will be due compensation from the club who sign goalkeeper Stephen Henderson.
The shot-stopper has been linked with Portsmouth after deciding he does not want to continue to remain as third choice behind David James and Dean Gerken.
Henderson, who joined Yeovil on loan last season, was able to talk to clubs from the beginning of July and turned down City's attempts to keep him at Ashton Gate.
But Millen will be expecting compensation, either agreed or via a tribunal, from the 23-year-old's next club.
Millen told the club's official website: "From July 1 Stephen was free to talk to other clubs and choose to join another team.
"He didn't return here for training and has not accepted our contract offer, so now we await developments and see which club he joins.
"We will be due compensation, either agreed with his new club or via a tribunal. It's a shame he's decided to leave and I'm disappointed because I really wanted to keep him.
"With the quality we have at the club, he clearly sees his first-team chances limited and equally it's very difficult keeping three goalkeepers happy."