Updated: YORK City Knights are hoping for a five figure compensation package after marquee signing Jason Demetriou left without ever playing a game for the club.

The former Wakefield Trinity Wildcats skipper, who only signed 12-month terms at Huntington Stadium three weeks ago, was unveiled as the new player/coach at Championship One club Keighley Cougars.

Demetriou, 34, had made no secret of his desire to step into coaching after leaving Super League but the speed at which he has secured his first position has stunned even the Knights, who had hoped he could be a key man in their upcoming Championship season.

The Knights wished Demetriou “all the best for the future” but said they were “disappointed” to lose him.

“The club can confirm that Jason Demetriou has accepted an offer to become the new Head Coach at the Keighley Cougars following Barry Eaton’s move to the Crusaders,” said the Knights in a club statement.

“Jason informed the club of his decision on Tuesday afternoon and we are now waiting to hear from Keighley regarding a compensation deal, which we expect will be a five figure sum.

“Although we are disappointed to lose Jason we wish him all the best for the future.”

Speaking to The Press last week about the Keighley position, Demetriou said: “It (the Keighley job) is something I would consider, but a lot of things would have to fall into place for me to leave York.

“At the moment I’m working outside the game and I’ve got a decent part-time contract with York. I’ve been honest with York all the way and they’ve supported me. They’ve even said they’d try to find me ways to get into coaching at York.

“It’s more about the long-term. Playing-wise, this is for the present, but I’ve got to look to secure something for the future as well.”

But it seems the lure of the post at Cougar Park has persuaded Demetriou his immediate future lies away from York.

Keighley club chairman Gary Fawcett said: “The club is pleased to announce that it has agreed terms with Jason Demetriou to be the player/coach for next season.

“Jason will work with Glenn Barraclough and Matt Bramald to ensure we achieve automatic promotion to Championship next season. To assist Jason, Matt has been moved to assistant coach alongside Glenn for the first team and retains his reserve team responsibilities.

“This move is a reflection of the value and commitment that Matt brings to the club. As rugby league fans will know Jason had captained Wakefield Wildcats for seven years and the club feels that he will bring significant capability to the club to successfully build on the foundations that are in place.

“Given the quality of Jason and the existing coaching team I think this club can challenge the top of the Championship in 2012.”