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I've found out what a variation agreement is.
If McCormack was on the alleged £70k / week, with 12 months left on his contract that £3,640,000.
If he now gets a contract for the next 12 months (= remainder of Villa contract) with another club at say £20k / week, Villa will pay the difference in his salary, i.e. £50k / week.
Resilience is definitely one thing we developed under Malky and have had in abundance with Warnock. While I'm not suggesting that either are tactical genuises, both had a bit more flexibility when selecting a team, based on the opposition - Warnock especially. It's a shame, as I reckon the side that lost to Blackpool would have stayed in the Premier League and is, for me, just about the best starting XI I think we've had in a generation.