The Nottingham Forest youngster impressed on loan at Meadow Lane but was recalled before being sent out to Scunthorpe United in League One.
It wouldn't be long before another highly-rated youngster arrived at the club, however, in the shape of Liverpool Under-23 captain Virtue.
“We were not really surprised (about Yates's departure) because Ryan did fantastically well for us,” Stead told the Nottingham Post.
“We just took it in our stride really because there are other lads vying for that position and ready to come and step in.
“We wish him all the best and thank him because he was terrific for us.
“He’s a great lad and a top, top professional. He’s a throwback to the old school professionals and I’ve no doubt he will go a long, long way in the game.”
Speaking about Virtue, Stead added: “He did very well (in his debut against Lincoln).I think he was in the dressing room scratching his head a little bit.
But he held his own very well and I think we will see a lot more of him throughout the games, especially at home. That’s when he will be able to get on the ball a little bit more.
“His neck was probably a bit sore from watching it go over his head last weekend. But he was very combative and he dealt with the physical side of it very well.”
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