Bates said: "We want to be compensated for the amount of work that has been put into developing the players.
"Recently Chelsea have been involved in another squabble with another player, this time with Manchester United (John Obi Mikel) and they had to pay £16million for that.
"That puts the £200,000 they have offered us in perspective."
Bates went on to argue that fining the Premiership champions would not be a sufficient punishment if were found guilty.
"We feel deduction of points, banning of registration of new players and suspension from European competition would be more appropriate", he added.
"There are rules and if you refuse, consistently, to play by the rules, why should you be allowed to play in those competitions?"
Chelsea have so far yet to make an official comment in response to the allegations.