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Post by davef on Jul 27, 2022 19:10:46 GMT
Both clubs have to agree to release a fee paid. There are a number of reasons why a club might not want the figure to be public knowledge.
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Post by Del on Jul 27, 2022 21:06:49 GMT
Both clubs have to agree to release a fee paid. There are a number of reasons why a club might not want the figure to be public knowledge. So without relating to any particular player what sort of reasons are we talking about ?
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Post by davef on Jul 27, 2022 21:27:00 GMT
Buying club doesn't want other clubs to think it overpays for players Buying club doesn't want other clubs to think it has money Buying club doesn't want to put pressure on the player it buys Selling club doesn't want other clubs to think it is now "loaded" - driving up costs for a replacement
In my 25 years on the board I can't think of one occasion where we didn't release the value in case people thought we had sold too cheaply
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Post by halftimet on Jul 27, 2022 21:39:48 GMT
I can never remember the club ever disclosing a fee.
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Post by toothman on Jul 28, 2022 6:34:51 GMT
Buying club doesn't want other clubs to think it overpays for players Buying club doesn't want other clubs to think it has money Buying club doesn't want to put pressure on the player it buys Selling club doesn't want other clubs to think it is now "loaded" - driving up costs for a replacement In my 25 years on the board I can't think of one occasion where we didn't release the value in case people thought we had sold too cheaply Doesn’t the fee ultimately have to be disclosed when the club accounts are published so ultimately it becomes a matter of public record.? Incidentally which are the most recent club accounts that are available for us and when is the AGM?
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Post by davef on Jul 28, 2022 7:26:12 GMT
Potentially true, but not if more than one player was sold during the financial year as only the total income received for player transfers would be shown. Also, fees are not always paid in one lump sum so the fee could be split over more than one year, especially if there are significant bonus clauses. By the time accounts are published the transfer would have been many months ago, maybe more than a year previously, so even if the actual figure can be worked out the "objections" listed above would probably not be so important any more.
Company law changed a few years ago and SUFC is no longer obliged to a hold an AGM, although the directors may choose to do so.
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Post by is4 on Jul 28, 2022 7:50:50 GMT
Morning Dave. Thank you for your break down of the transfer rules and regs.also about AGM'As. One question if I may ask. Is a shareholder intitled to see a copy of accounts even if there is no AGM?
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Post by davef on Jul 28, 2022 8:02:09 GMT
Yes., they can. Accounts can take a long time to finalise though. Last year was so busy, with more transactions than any other year in our history, that it took longer than ever.
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jr
1st team skipper
Posts: 2,195
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Post by jr on Jul 28, 2022 8:24:21 GMT
There’s also versions of a company’s accounts available to view for free online once they’re filed
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Post by toothman on Jul 28, 2022 10:39:12 GMT
There’s also versions of a company’s accounts available to view for free online once they’re filed I’ve looked at these on line which cover up to the end of the NL winning season. I’m not an accountant so as a lay person it looks as if the club was still in the black at May 21 but had a reduction in assets of approx 300k largely attributable to loss of the 3G pitch whose value would normally be written off over its lifetime but we lost overnight. Also when you look on companies house you see that the club has shares valued at 1.86 million and that two companies one USA and one UAE own by implication over 50% of the club. I presume issuing of shares is how the club raises capital ? Am I correct as a private limited company shares are not tradeable.
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Post by davef on Jul 28, 2022 10:46:22 GMT
If you mean can shares be traded on the open market, then the answer is no. The company's Mem & Arts stipulate that any purchase of shares, whether they be new shares or the transfer of shares from an existing shareholder to another party must be approved in advance by the Directors.
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Post by toothman on Jul 28, 2022 10:46:54 GMT
What are the financial fair play rules as they apply to us in EFL 2 .
As there is no cap on wages or transfer fees it does seem that massively bank rolled clubs will always have an advantage or is there a limit to how much cash can be poured into a club compared to regularised income stream.
As I said in a previous posting Neil Harris of Gillingham said he felt that 7 or 8 EFL 2 teams are sailing close to the wind and risk financial ruin.
Regarding transfers even with a free transfer are there fees to agents and does the player get a signing on payment?
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Post by toothman on Jul 28, 2022 10:50:28 GMT
Are players given a value as assets of a football club or are assets for accounting purposes just cash in the bank and buildings etc etc ?
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Post by davef on Jul 28, 2022 11:08:08 GMT
You will need to ask an accountant on that one ! The fairplay rules are quite complicated, not easy to summarise here. But they do impose limits on the wage bill based on income. Everything regarding bonuses, signing-on fees, agents' fees etc is variable from player to player, contract to contract. No different to the EPL.
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Post by davep on Jul 28, 2022 15:14:06 GMT
Thanks to davef for using his 'real life experience' to provide inputs on this board on this issue and a number of others. Very interesting and very helpful.
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