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Posted by: Duncan96
Date: 15/12/2019 16:46
In respect of comments above as to whether we have to do anything to be under the salary cap this year can I please make the following point:

It appears we were only over the salary cap because of the investment companies. Basically NW made loans to companies part owned by the players.

This is caught by Clause 1 (d) of Schedule 1 of the Salary Cap regulations which states that "Salary" includes "any loan pursuant to which the Player or any Connected Party of the Player is not obliged to repay the full sum advance in the Salary Cap Year in which the loan is made".

In other words, because they weren't repayable within the season that they were made the loans were treated as Salary for that year.

So, provided there are no more investment companies this year, and it would be incredible if there were, and because we had more players out than in this season, it appears a reasonable assumption that we don't need to do anything to be under the cap.

We are being audited at present for the current year which will hopefully confirm that.

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