Andy Webster (1 Viewer)
- Thread starter FRY-CCFC
- Start date
CCFC_Charlie
Well-Known Member
Aren't we still under embargo?
Nick
Administrator
He made this rule happen:
http://en.wikipedia.org/wiki/Webster_ruling
Still signed to Hearts though?
http://en.wikipedia.org/wiki/Webster_ruling
Still signed to Hearts though?
CJ_covblaze
Well-Known Member
Word on Saturday was it had been lifted. If true it's only 207 days till the next one!
TheRoyalScam
Well-Known Member
There's the small matter of filing audited company accounts before coming out of transfer embargo. They're currently over 5 months late.
Oh well, it's only the third year in succession SISU have failed to do this on time.
Wonder what the hold up could be....surely it couldn't be the transfer of assets from CCFC Ltd to CCFC (Holdings)? Or just call me an alleged asset stripping conspiracy theorist
oldskyblue58
CCFC Finance Director
I know the FL can use their discretion but currently
CCFC Ltd is still subject to an insolvency event and still forms part of the SBS&L group which includes Otium
Liquidator not yet appointed and nothing filed at Co house so technically still in administration
The FFP rules will keep us in embargo because we must be way over the percentage of turnover right now with no reasonable prospect of turning that round any time soon
No audited accounts have been filed at Company House
Accounts also overdue at HMRC & FL
all breaches of the FL rules requiring embargo as a remedy until rectified
Like I said the FL could use their "discretion" but there would be a hell of a lot of their own members not happy if they do.
CCFC Ltd is still subject to an insolvency event and still forms part of the SBS&L group which includes Otium
Liquidator not yet appointed and nothing filed at Co house so technically still in administration
The FFP rules will keep us in embargo because we must be way over the percentage of turnover right now with no reasonable prospect of turning that round any time soon
No audited accounts have been filed at Company House
Accounts also overdue at HMRC & FL
all breaches of the FL rules requiring embargo as a remedy until rectified
Like I said the FL could use their "discretion" but there would be a hell of a lot of their own members not happy if they do.
Brighton Sky Blue
Well-Known Member
He could be signed if the official squad list goes below a certain number-dispensation was given to Portsmouth to do this.
kingharvest
New Member
There is only one thing there that I think can be questioned and that is the turnover % rule. From what I understood at the last SCG meeting, this season is forecasted based on last season - so we may be ok on wages. However this may be re-assessed during the season. If we spend the year at Northampton then it's next season that will bring Armageddon.
Brighton Sky Blue
Well-Known Member
Budgetary information is given to the League throughout the season.
skybluebeduff
Well-Known Member
Just like someone saying Tomas Priskin has signed, It's just another rumour. We have a bomb squad people, the reason they are in it is because we can't afford them! So I doubt we'll be adding any!
kingharvest
New Member
Do you know what the penalty is for going over? Is it a fine? Do you have to immediately trim the wage budget? are you placed under an immediate embargo?
sw88
Chief Commentator!
I instantly thought of this when I saw the thread
Thought our players were going to utilise the rule
oldskyblue58
CCFC Finance Director
Sorry kingharvest it is not based on last seasons income at all. The FL have confirmed it is based on the current season budgets that are monitored by the FL
Reply from FL on turnover etc
SCMP splits turnover into ‘normal income’ and ‘football fortune’ income. For League 1 clubs both these forms of income go into determining how much money a club can spend in relation to wages. In League 1’s case, this is set at 65% of turnover. This is calculated on an on-going basis going forward.
All player wages are included in the calculation. This covers basic wage, bonuses, appearances and any other add-ons. The calculation also includes PAYE, medical costs, cars and travel and also agent payments. Basically the full cost of a player is included. Players included are all contract players (full contract, non-contract, multiplicity etc.) and loan players. Players loaned out are deducted for the period of the loan. Players not included are youth players on a professional contract (i.e. players that have been in the club’s YD scheme and have been given a pro contract. They must be 20 years of age or under at the start of the season to be discounted from the SCMP calculation
kingharvest
New Member
But surely it must have a benchmark? Otherwise wouldn't we be shipping players out now? or is that what the bombsquad is about?
The Prefect
Active Member
Great post!
This is my understanding and based on current season ticket sales etc. I'd guess that we will be under embargo for most of / all of the season. We might be lucky and be allowed to sign players when we exit administration but it seems we'll fall foul of the rules after a few weeks if we play at Sixfields. The first time we file the update my guess is that we'll be under another embargo.
The bomb squad might be on their way back sooner than they think...!
chiefdave
Well-Known Member
if Fisher has filed a budget based on crowds of 5K and 1K at most turn up this weekend won't the football league have to pretty swiftly have a word and tell him his budget is useless and to submit a new one. We'll be over our limit before we even think about signing anyone else.
skyblue025
Well-Known Member
You are allowed to sign players under FL rules to have a squad of 20. The Bomb squad are paid by the club so are counted as squad players. You could take out the youth players in the squad which might give us the 1 or 2 spaces that Pressley was talking about.
It's ok Fisher will probably just fire off a threatening legal letter, and the FL will just quietly ignore their own rules.