WONDERLAMPS
Well-Known Member
In talks to sign him
Word on Saturday was it had been lifted. If true it's only 207 days till the next one!
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.
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.
Budgetary information is given to the League throughout the season.
He made this rule happen:
http://en.wikipedia.org/wiki/Webster_ruling
Still signed to Hearts though?
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.
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
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.
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