So I just read something TF wrote about how if you break the Salary Cap then thanks to FFP we would get a transfer embargo. We haven't filed any accounts yet so aren't we still subject to a transfer embargo at the moment? If we are then are there other penalties (pun not intended) for exceeding the cap and if not couldn't we just keep more of our current players in the squad?
No, we'd just continue under an embargo until our salary costs come within FFP
No, we'd just continue under an embargo until our salary costs come within FFP
Like Swindon??
Going forward assuming we do submit some kind of Financial statement to the league as required to continue next season,would not paying the legally required level of rent or any rent last season affect SCMP next season.
Would that be a double advantage as our turnover would be greater than a team paying its rent /Mortgage/Maintiaining its own ground?/:thinking about:
Like Swindon??
Going forward assuming we do submit some kind of Financial statement to the league as required to continue next season,would not paying the legally required level of rent or any rent last season affect SCMP next season.
Would that be a double advantage as our turnover would be greater than a team paying its rent /Mortgage/Maintiaining its own ground?/:thinking about:
So I just read something TF wrote about how if you break the Salary Cap then thanks to FFP we would get a transfer embargo. We haven't filed any accounts yet so aren't we still subject to a transfer embargo at the moment? If we are then are there other penalties (pun not intended) for exceeding the cap and if not couldn't we just keep more of our current players in the squad?
So not because we haven't sent our accounts in?We're under embargo by virtue of being in administration.
Yup that's a worry that's been bugging me too.The very concerning thing for me is that Portsmouth have now set a precedent that means if we don't get out of administration before next season starts we will be hit with another points deduction should we eventually come out of it thereafter.
So not because we haven't sent our accounts in?
I'm not sure if a company in administration even can have accounts filed-not being a financial man I can't say for certain. Presumably a company in administration cannot be passed off as a going concern because, well, it's in administration.
should file accounts 9 months after year end. Company House will go past that but by the time you get to 1 year + past the due deadline you are looking at Company House taking action against directors for not fulfilling duties. Administration can and will get in the way of that, Pompey 2010 ltd still havent filed theirs and were due Feb 2012 for instance
I asked that question the other day with my SISU sympathising ways, and got this answer:
No need to put a snarky twist on it...
We're under embargo by virtue of being in administration. The very concerning thing for me is that Portsmouth have now set a precedent that means if we don't get out of administration before next season starts we will be hit with another points deduction should we eventually come out of it thereafter.
We sure are now BSB ,but thought we initially hit embargo for not filing Accounts on time ??:thinking about::thinking about:
You know the littany of events this season ,its hard to recollect just what the hell is what.I fear that is the current strategy ,swamp the situation into utter connfusion ,i think we all need to remeber how we've got here.!!
It's worn me down!
Of course if people decided to all agree to stop the sly digs in return, and actually read what's written and respond with their own opinion instead of prejudices, we could all start with a clean slate no?
If they don't, then I'll fight back and point out how ridiculous it makes them sound.
Like Swindon??
Going forward assuming we do submit some kind of Financial statement to the league as required to continue next season,would not paying the legally required level of rent or any rent last season affect SCMP next season.
Would that be a double advantage as our turnover would be greater than a team paying its rent /Mortgage/Maintiaining its own ground?/:thinking about:
Would that be the Food and Beverage income that ACL offered their share of and to cross invoice 100% for FFP purposes?The rent is nothing to do with the Salary cap as the 65% is purely playing staff salary costs as a percentage of turnover and does not look at other expenditure. The only aspect of the rent row that could affect FFP is if we negotiated a proportion of match day income as that could be added to turnover.
I'm not sure if a company in administration even can have accounts filed-not being a financial man I can't say for certain. Presumably a company in administration cannot be passed off as a going concern because, well, it's in administration.
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