Good work by the CTSA here, some interesting feedback. The issue with the 3 senior players is a puzzle for now but my personal view is only GF of the 3 should have a significant role to play in any squad refresh. It's clear we need to move players out to bring others in to trim a big squad and ensure no issues with FFP
If these idiots think Tom Nichols was too old at 29 then what hope is there for the others. On the other hand they gave all three of them new 2 year deals at the end of last season, so perhaps they should have thought it through a bit more.
The squad has been too bloated since the Eren days, and needs a massive clear out. The manager should be left to get on with it, Galley put out to grass, and an experienced CEO appointed. I wasn't Michael Dunford's biggest fan but someone of his stature/experience is needed.
If these idiots think Tom Nichols was too old at 29 then what hope is there for the others. On the other hand they gave all three of them new 2 year deals at the end of last season, so perhaps they should have thought it through a bit more.
The squad has been too bloated since the Eren days, and needs a massive clear out. The manager should be left to get on with it, Galley put out to grass, and an experienced CEO appointed. I wasn't Michael Dunford's biggest fan but someone of his stature/experience is needed.
I was agreeing with you until you mentioned Dunford. He was banning fans left right and centre. Even Wagmi haven't done that.
Good work by the CTSA here, some interesting feedback. The issue with the 3 senior players is a puzzle for now but my personal view is only GF of the 3 should have a significant role to play in any squad refresh. It's clear we need to move players out to bring others in to trim a big squad and ensure no issues with FFP
Unless Preston has been economical with the truth I think all of the "FFP" (technically SCMP in L2) talk is just noise from someone who looked at Nichols being sold and then made 2+2=5.
Using fag packet maths and assuming the worst case scenario that CTFC were right on the SCMP limit of playing budget being 55% of revenue when last season we can sort of work out what leeway there is.
The playing budget has apparently doubled from £1.5m to £3m so that extra £1.5m on the budget would need an increase in revenue of £2.7m compared to last season. The figures that had previously been suggested about the NFT funding were originally at least £1.45m but the Athletic article that came out earlier this week suggests that it could be as high as £2.05m. In addition, Preston has gone on record to say £2m of historic debt has been paid off since they came in which will count as a cash injection so that's a minimum of £3.45m revenue increase this season which is well in excess of the maximum £2.7m required. On top of that, CTFC released 9 players over the summer and a further 4 since then including Nichols (for a fee) and Morris which will have freed up some spending. And finally, players who are U21 at the start of the season do not count towards SCMP so given how youthful much of the squad is, I would imagine that a few of them will fit in to this category.
On the minus side, it's likely that "legacy" commercial revenues have dropped since last year given the squiggle on the shirt and some of the twitter action from (presumably) ex-sponsors but even so, it's unlikely to be enough to cause an issue for SCMP this season.
Now a caveat to the above would be if Preston was being slightly disingenuous and the NFT funding paid off the debt and then the CTFC credit card and overdraft are taking a hammering to pay for everything but even if that's true, short term funding is clearly not an issue for Wagmi so they can just transfer more money in to CTFC and just leave it in the bank to gather interest.
All will become clear when the next set of accounts are released but I suspect that FFP/SCMP will not be an issue this season.
If these idiots think Tom Nichols was too old at 29 then what hope is there for the others. On the other hand they gave all three of them new 2 year deals at the end of last season, so perhaps they should have thought it through a bit more.
The squad has been too bloated since the Eren days, and needs a massive clear out. The manager should be left to get on with it, Galley put out to grass, and an experienced CEO appointed. I wasn't Michael Dunford's biggest fan but someone of his stature/experience is needed.
I was agreeing with you until you mentioned Dunford. He was banning fans left right and centre. Even Wagmi haven't done that.
Good work by the CTSA here, some interesting feedback. The issue with the 3 senior players is a puzzle for now but my personal view is only GF of the 3 should have a significant role to play in any squad refresh. It's clear we need to move players out to bring others in to trim a big squad and ensure no issues with FFP
Unless Preston has been economical with the truth I think all of the "FFP" (technically SCMP in L2) talk is just noise from someone who looked at Nichols being sold and then made 2+2=5.
Using fag packet maths and assuming the worst case scenario that CTFC were right on the SCMP limit of playing budget being 55% of revenue when last season we can sort of work out what leeway there is.
The playing budget has apparently doubled from £1.5m to £3m so that extra £1.5m on the budget would need an increase in revenue of £2.7m compared to last season. The figures that had previously been suggested about the NFT funding were originally at least £1.45m but the Athletic article that came out earlier this week suggests that it could be as high as £2.05m. In addition, Preston has gone on record to say £2m of historic debt has been paid off since they came in which will count as a cash injection so that's a minimum of £3.45m revenue increase this season which is well in excess of the maximum £2.7m required. On top of that, CTFC released 9 players over the summer and a further 4 since then including Nichols (for a fee) and Morris which will have freed up some spending. And finally, players who are U21 at the start of the season do not count towards SCMP so given how youthful much of the squad is, I would imagine that a few of them will fit in to this category.
On the minus side, it's likely that "legacy" commercial revenues have dropped since last year given the squiggle on the shirt and some of the twitter action from (presumably) ex-sponsors but even so, it's unlikely to be enough to cause an issue for SCMP this season.
Now a caveat to the above would be if Preston was being slightly disingenuous and the NFT funding paid off the debt and then the CTFC credit card and overdraft are taking a hammering to pay for everything but even if that's true, short term funding is clearly not an issue for Wagmi so they can just transfer more money in to CTFC and just leave it in the bank to gather interest.
All will become clear when the next set of accounts are released but I suspect that FFP/SCMP will not be an issue this season.
I can fill some blanks in here. The SCMP issues came when WAGMI offered a flat £1000 bonus to anyone that did a particular celebration against Fulham. Nichols duly obliged and was then owed £1000. Unless this was in all players contracts as a potential bonus, it became a breach of SCMP. Given what we know about WAGMI now, do we think this contract clause was inserted?
I can fill some blanks in here. The SCMP issues came when WAGMI offered a flat £1000 bonus to anyone that did a particular celebration against Fulham. Nichols duly obliged and was then owed £1000. Unless this was in all players contracts as a potential bonus, it became a breach of SCMP. Given what we know about WAGMI now, do we think this contract clause was inserted?
Interesting. Rather than SCMP (which specifically relates to the total playing budget and does not relate to individual players) this sounds like offering additional bonuses which are not stipulated in player's contracts which is a definite no no. Accrington Stanley fell foul of something similar a few seasons ago when the chairman mentioned on twitter that if they won away he treated the team to a McDonalds but they had to pay for their own burgers on the way home if they lost. If the FA/EFL get angsty about a few Big Macs then they're definitely going to have issues with £1k celebration bonuses.
Bantam - you are the most likely to be able to answer this. Are capital reserves actually ring-fenced or Would WAGMI have to return to the consortium & present a case for more investment...?
Ps. I am unclear why Preston presents paying "historic debt" as some sort of benign additional action. He is either displaying fiscal naivety or being disingenuous in his message...(?)
Everyone - not just financial analysts - know that a prime objective of any efficient due-diligence process... ...is to establish ALL (actual & potential) outstanding liabilities... ...which are then included as a consideration when the final sales price is negotiated & agreed...!
If these idiots think Tom Nichols was too old at 29 then what hope is there for the others. On the other hand they gave all three of them new 2 year deals at the end of last season, so perhaps they should have thought it through a bit more.
The squad has been too bloated since the Eren days, and needs a massive clear out. The manager should be left to get on with it, Galley put out to grass, and an experienced CEO appointed. I wasn't Michael Dunford's biggest fan but someone of his stature/experience is needed.
I was agreeing with you until you mentioned Dunford. He was banning fans left right and centre. Even Wagmi haven't done that.
I don't think the bans were ultimate Dunford's decision.
I was under the impression that the historical debt was owed to Ziya Eren as I believe he took on all the debts when he brought the club. If not owed to Ziya then who?
Also, while interest rates were at historic lows it makes sense to borrow to invest. As the rates have started to rise it makes sense to pay them off.
I was under the impression that the historical debt was owed to Ziya Eren as I believe he took on all the debts when he brought the club. If not owed to Ziya then who?
Also, while interest rates were at historic lows it makes sense to borrow to invest. As the rates have started to rise it makes sense to pay them off.
Jim Baker
Don’t suppose it was the million “loan” Ziya gave to the club?