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Post by westandlower on Dec 24, 2015 11:41:15 GMT
Now we have been served with a transfer embargo because the Directors haven't signed off the accounts to June 2015. It's a more harsh version than applies to, say , For rest who can balance ins and outs. We cannot bring anyone in.
Apparently the draft accounts should show that we are within the rules but due to the current problems the Directors were not able to sign them off. I have a feeling that there is something else we are not being told. The Directors must have been aware of the issues a long time before it became public.
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Post by andyl on Dec 24, 2015 11:58:37 GMT
Hence the Nucleus loan!
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Post by riochforthereebok on Dec 24, 2015 15:28:10 GMT
Well NL hasn't exactly set the world alight with his dealings in the transfer market anywhere so it's neither a good nor bad thing that we've now got this embargo. We are going down there's no getting away from it, I've witnessed enough of the teams Lennon picks to know that we're bottom for a reason and I'm getting slated on the BN from hungerhillbilly for saying so!! Upset now Lennon out
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Post by OohMac on Dec 24, 2015 17:54:35 GMT
Our reason for being put under embargo is disgraceful. Not handing in files. Quite frankly I believe this secretive approach is masking not only incompetence but also shady/illegal dealings. I agree with the embargo though, just wish it came 4 years ago when Coyle was losing his head.
The jist of the embargo I strongly agree with anyway and these are methods we should have been using anyway
Clubs cannot pay a loan fee to another club, they may only pay the player's wage (or a contribution towards it). For incoming players, clubs can only pay agents' fees as a benefit in kind to the player in question (as long as they do not exceed the £600,000 employee costs limit).
How we paid £1M+ on agents fees is beyond me.
I feel badly let down by the football league, we announced debts of £160M two years ago and they swallowed Gartsides bull about not "real debt" which only escalated into more debt and unpaid tax. They should have asked for something concrete whereas Eddie Davies couldn't hold the club to ransom.
I also feel a bit annoyed with The Premiership who threw parachute payments at us without any real structure or method behind it. They both, should look after teams better. My idea was they take the salary information of the relegated teams(senior, after releasing all those out of contract) omit the top 5 earners and bottom 5 earners so they have a core group who they can guarantee wages be paid too. The top 5 earners need to go. Simple as that. They either assist us in terminating contracts. Its hard to take but they could have "mandatory auctions" on these players.
If you don't agree you could waive your right for parachute payments and keep your "stars"
How this would have worked with us is that the likes of N'Gog, Sordell, Eagles, Mears, Petrov? Would have been auctioned and off our wage bill. Maybe bringing in £2-3M for us.
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Post by westandlower on Dec 25, 2015 21:18:17 GMT
OOOOMacron. Auctioning off the top 5 earners is an interesting idea. Sounds a bit (but not very like) "the draft" in USA football. What if there are no bidders tho? I'm not sure that many of those would have attracted bids. Are any playing in the UK now? Sordell is in League 1 or 2, Mears in USA, Ngog looks to have gone missing since some sort of virus a year ago, Chris Eagles is at Bury, Petrov retired(?). Their value may been higher a couple of years ago but who knows. At the end of the day I doubt the Football League can trump the law of contract.
Very valid point about agents fees tho. We seem to have been paying over the odds for a few years. If agents fees are over the odds, it shows our negotiating skills are poor. Wages are likely too to be over the odds.
The club has been run amateurishly for too long. Have to blame Gartside & Eddie for not holding Gartside to account for that.
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