Report This Message
Are you sure you want to report this post?

Re: EVERYTHING SALARYCAP RELATED
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.

You may optionally give an explanation for why this post was reported, which will be sent to the moderators along with the report. This can help the moderator to understand why you reported the post.
Name:
Email:

We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net