Wed Oct 16, 2013 2:07 pm
Wed Oct 16, 2013 4:38 pm
newboy wrote:and no before some cad says it, its not stuffed up our eminent benefactors waistline...HOWEVER,
A £15M shortfall is quite a few quid, especially when you have a top accountant as your CEO ...may be able to shed some light on this. It now appears that Cardiff City has NOT OVERSPENT on players but some accounting issues have made things a bit murky.
Well this is my take.... we spent roughly £30M on transfers this summer ..or did we? Some papers reported that we spent £11M on Medel...club says £9M, some say £9.5M on caulker...club say £8M....we could go on but you get my drift...
What`s is the answer? Well, its the norm in this country for the Club to agree a transfer fee for a player.....say £10M...this fee is then paid over to the selling club. SIMPLE?
However the BUYING club then has to pay a further 20% fee to the players agent...this is because the PLAYER doesn't pay the agent direct from his own purse. The agent is able to say to his client..."Listen up mate this is going to cost you nothing because the CLUB is covering my fees"...(the player is happy until he receives a large tax bill a year later as a Benefit in kind...and has to pay 45% tax...but that's another story)
so, by my reckoning, CARDIFF CITY HAS NOW SPENT £36m on transfers and not £30M....tans original budget? £25M...
plus wasn't aware of original annual BONUS....does this explain shortfall?
ABSOLUTELY NOT...these guys are 100 times brighter than me so knew all along where every single penny was going...
Wed Oct 16, 2013 4:49 pm
Wed Oct 16, 2013 5:06 pm
Wed Oct 16, 2013 5:26 pm
Wed Oct 16, 2013 7:28 pm
Wed Oct 16, 2013 8:18 pm
Wed Oct 16, 2013 8:26 pm
newboy wrote:and no before some cad says it, its not stuffed up our eminent benefactors waistline...HOWEVER,
A £15M shortfall is quite a few quid, especially when you have a top accountant as your CEO ...may be able to shed some light on this. It now appears that Cardiff City has NOT OVERSPENT on players but some accounting issues have made things a bit murky.
Well this is my take.... we spent roughly £30M on transfers this summer ..or did we? Some papers reported that we spent £11M on Medel...club says £9M, some say £9.5M on caulker...club say £8M....we could go on but you get my drift...
What`s is the answer? Well, its the norm in this country for the Club to agree a transfer fee for a player.....say £10M...this fee is then paid over to the selling club. SIMPLE?
However the BUYING club then has to pay a further 20% fee to the players agent...this is because the PLAYER doesn't pay the agent direct from his own purse. The agent is able to say to his client..."Listen up mate this is going to cost you nothing because the CLUB is covering my fees"...(the player is happy until he receives a large tax bill a year later as a Benefit in kind...and has to pay 45% tax...but that's another story)
so, by my reckoning, CARDIFF CITY HAS NOW SPENT £36m on transfers and not £30M....tans original budget? £25M...
plus wasn't aware of original annual BONUS....does this explain shortfall?
ABSOLUTELY NOT...these guys are 100 times brighter than me so knew all along where every single penny was going...
Wed Oct 16, 2013 8:52 pm