How much is needed to pay the lawyers ? (1 Viewer)

[chiefdave]

But if the club has made an extra few million in transfer fees. This excess money can be taken at any time against debt / outstanding loans to the club. They don't have explain where its going or what it will be used for.
The club wouldn't pay it directly.

Where is this extra few million coming from? How much do you think the players who could be sold are worth in up front fees?

 

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[sky blue john]

IF CCFC genuinely owes money to SISU, then they are entitled to take money out to cover debts. (although others who understand the accounts say there is no evidence of that so far). It's not corrupt. It's not lining SISU's pockets.
That's an unfortunate fact and although we, as supporters, want that money spent on players, the owners can do what they please.

You are completely correct with what you have said above.
My point is up to now we haven't made a profit. But with impending sales there is likely to be an excess profit this year.
The owners can take this money out of the club against existing debt / loans and do whatever they want with it. For example litigation costs. Who knows they might leave the money in the club and use it to strenghen the team. As they have not been in a profit situation before the opportunity has not been there to take money out.

 

[sky blue john]

Where is this extra few million coming from? How much do you think the players who could be sold are worth in up front fees?

Obviously any deals will be undisclosed and we will only get an idea in 12 months when the next set of accounts come out.
Based on rumours if we are looking for 2million for Stevenson and Harries is of interest to Liverpool. Add Willis on top and we could be talking a few million. I would rather them be kept and developed personally. But we will have to wait and see.

 

[chiefdave]

Based on rumours if we are looking for 2million for Stevenson and Harries is of interest to Liverpool. Add Willis on top and we could be talking a few million.

But it won't be £2m up front. That's the problem.

 

[sky blue john]

But it won't be £2m up front. That's the problem.

Lets wait and see, we don't know the ins and outs of previous deals Maddison & Sambou for instance. We could be owed money still on these deals.

 

[Grendel]

Lets wait and see, we don't know the ins and outs of previous deals Maddison & Sambou for instance. We could be owed money still on these deals.

So what? The reality remains without the sales the accounts would have shown a black hole last year and it's only sales that keep the club going.

 

[sky blue john]

So what? The reality remains without the sales the accounts would have shown a black hole last year and it's only sales that keep the club going.

Its also blatantly obvious our playing budget is a lot lower this year.

 

[Grendel]

Its also blatantly obvious our playing budget is a lot lower this year.

So are our crowds.

 

[skybluebeduff]

So are our crowds.

The budget was reduced before they knew what the crowds were going to be like.

 

[Grendel]

The budget was reduced before they knew what the crowds were going to be like.

The cap budget is set at the beginning of the year based on projected turnover.

 

[Captain Dart]

The cap budget is set at the beginning of the year based on projected turnover.

And monitored regularly... so if crowds fall the budget could fall & vice versa. We do not know if the money actually being spent was set at or below the projection, there may be some head room built in.

The process is interactive with clubs providing the Football League with projections for the spending for the coming season. During the season the clubs provide regular updates on their Turnover and wage bill. Any club that is forecasting a wage spend within 5% of the figure will be scrutinised more closely. Where a club is on course to exceed the limits, the Football League will apply a Transfer Embargo. Crucially, a club doesn't have to overspend to incur the embargo, it only needs to shown to be heading for an overspend. This interactive approach enables clubs to increase their wage bill if their circumstances improve - a successful cup run will generate increased income and the Football League may be able to sanction additional wage spend. Because SCMP doesn't rely on the retrospective scrutiny of club accounts, it is also extremely effective at stopping overspend before the spending actually occurs (something that has been a problem for the Championship's version of FFP).

 

[Grendel]

And monitored regularly... so if crowds fall the budget could fall & vice versa. We do not know if the money actually being spent was set at or below the projection, there may be some head room built in.

The process is interactive with clubs providing the Football League with projections for the spending for the coming season. During the season the clubs provide regular updates on their Turnover and wage bill. Any club that is forecasting a wage spend within 5% of the figure will be scrutinised more closely. Where a club is on course to exceed the limits, the Football League will apply a Transfer Embargo. Crucially, a club doesn't have to overspend to incur the embargo, it only needs to shown to be heading for an overspend. This interactive approach enables clubs to increase their wage bill if their circumstances improve - a successful cup run will generate increased income and the Football League may be able to sanction additional wage spend. Because SCMP doesn't rely on the retrospective scrutiny of club accounts, it is also extremely effective at stopping overspend before the spending actually occurs (something that has been a problem for the Championship's version of FFP).

We also know that the average league wage is around 70,000 which means an average wage bill with 25 players is around £1.7 million. Our cap is apparantly £2.4 million which tells a lot about the relevance of budgets