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When is the result going to be announced ? Here we are talking about signing a megastar when we may have to pay out £15m we haven’t got.
Also, the Isaacs case has not been sorted yet although I think that’s the one that the club are most confident about.
there has not been a timescale announced, looking at other cases it typically takes months
So what exactly is our 'Board' setting up here? What is the development policy for the club? One day it's 'build from the grassroots, develop the youngsters, bring in frees and loans, change the playing style, there's no money for transfer fees', then it's throw money at a megastar who needs match practice for Wales and might help sell season tickets. Which is development and which is just more short-term thinking?
I think the overall strategy is younger players and players from lower leagues who can increase in value - but if you get the chance to sign a 5 time champions League winner you aren't going to say "sorry Gareth but we've got our eye on a youngster from MK Dons who is putting up some good numbers and could be worth a couple of million in a few years if it works out"Quote:
Originally Posted by Jeff Mansfield
I thought we had put aside that £15m in case it has to be paid?Quote:
Originally Posted by Enoch Mort
If we can afford him then we can afford some really good players for the same amount who aren't with us just to get fit for Qatar. Unless he's coming on a Johnny Freemans. And why doesn't the 'Board' release the retained list? Who are the Board anyway?
In the accounts an amount of £15 million has been provided for as a debt we may have to pay, but that doesn’t mean that there’s £15 million set aside in a bank account to pay it. It’s just a sort of acceptance that we potentially owe that amount.Quote:
Originally Posted by Eric the Half a Bee
How do you know that they will ‘throw money’ at him ? He was born and bred in Cardiff, has a house in Cardiff, all his family are from Cardiff, is a Cardiff City fan, Welsh and he has made more money than he will ever need at Tottenham and Real Madrid. As for ‘might sell season tickets’ - get real, City would more than recoup any money they have to give him to come here by extra ticket sales. An extra 1000 only on the gate would bring in £25-30000 more per game and it would be more likely to add 4-5000. Some people are never happy.Quote:
Originally Posted by Jeff Mansfield
It wouldn't take more than a couple of minutes googling for you to find out who ‘the board’ are. Also, why should ‘the board’ release the retained list - just to cheer you up ? There is a chance that we could sign one of the best players Wales has ever produced and all you can do is moan about it. Presumably you said the same about Craig Bellamy.Quote:
Originally Posted by Jeff Mansfield
The point is though, that if we do have to pay out £15m for Sala, it will be because it has been found that he was our player at the time he died. In those circumstances, almost certainly, the clubs insurance policy would pay out. The recent litigation will have been driven by the insurance companies attitude to not paying out. The only time City would have had to find the ‘cash’ from the books is if he hadn't been killed and the sale had gone through smoothly at the time we signed him.I don't see how the insurance company can refuse to pay out.Quote:
Originally Posted by Hot Shot Hamish.
The rumour is that he might play for a small fee, which will go to charity and then there could be add-ons - image rights, promotion bonus etc.Quote:
Originally Posted by Jeff Mansfield
It’s not like they’re going to suddenly pay out £50k a week.
Insurance probably wouldn't cover him for flying in a light aircraft with an unqualified pilot. Had he been our player flying on a commercial flight....a different matter.Quote:
Originally Posted by dml1954
Insurance companies always look for a reason not to pay out. If it does end up involving one, then you can bet that they will then look to apportion blame o try and recover the money, which may get messy.Quote:
Originally Posted by dml1954
It is likely that the relevant paperwork for any insurance cover had not been completed. If it had been then there would have been no need for the club to make a provision in the accounts.Quote:
Originally Posted by dml1954
I think you may be right. The only reasons for there being a provision in the balance sheet are that we are either not insured or, if we are, we don't expect a pay out. Neither of which are good news.Quote:
Originally Posted by JumpersforGoalposts
It's quite a significant Sword of Damocles hanging over us and, I would imagine, is playing a significant part in our financial planning. Also, it is bound to impact on any takeover enquiries that might happen. The sooner it is resolved the better. Fingers crossed CAS finds in our favour.