When I heard of this trumpeted rapprochement on salaries at Sevco I contacted a trusted source.
I had tried him earlier in the day about another matter,
However, he wasn’t picking up.
That’s perfectly fine as I understand that he has to practice social distancing at times.
Now, I wanted him to put some context to the spin so I sent him this tweet in order to elicit a response.
This is what he sent me back:
“Wage deferral for 3 months, plus if issues after that the players can leave for a reduced fee. Gerrard can leave with no fee for his services required to be paid to Rangers. Gerrard also gets a lump sum net payment of £1m if this goes ahead.”
For the avoidance of doubt, this chap is in a position to know these details.
Moreover, I cannot recall a time when his information was not spot on.
It is worth noting what ven without this pandemic crisis the figures at Sevcio just didn’t add up even with matchday revenues coming in.
Rugger Guy had often pointed out to me that the RIFC accounts had always assumed plain sailing and no major issues on the horizon.
Well, I think no football until, say, September or October is a rather large bump in the road.
For the avoidance of doubt, deferred pay will still have to be paid.
What this essentially does is create new debt for club to meet at some point in the future.
The same factors, which are leading to clubs attempting to make huge cuts in salary, will destroy the transfer market – as it has worked in the last few years.
Even at the very top, players will be unable to move for the same money as they are on now. That would apply to the likes of Harry Kane and Paul Pogba.
Further down the pyramid, the same applies. Thus players, who are still in contract, would be foolish to move – even if there were buyers.
This doubles back and increases the pressure on clubs to cut the wage bill. There is no good news here for any club but, obviously, the weaker your finances are to start with, the grimmer the future looks.
Sevco doing what Sevco always do , kicking the ball down the road.
Reduced fee is their way of off loading Morelos for much, much less than the klan think he’s worth.
As for football being played, no chance of that this year! Anyone who thinks we will be playing ( even behind closed doors ) are delusional. First off players contracts end, and any that are left will need a Mini pre season to get back up to fitness ,or injuries will abound.
So declaring the games be played ( say August ) it would be Sept, Oct before they would even be able to consider kicking a ball, and August is not even reasonable as this virus has a long way to go yet.
The reduced fee, would be the buying club picking up the tab for the deferred wages in lieu of a full transfer fee.
Another case of other people’s money.
SEVCO are just delaying the inevitable 😂😂😂😂😂😂😂
Statement says 3 month deferral until 1st July then out of contract guys move for free and court case for wages. Usual rubbish about keeping their dignity always doing the right thing paying taxes etc then serial loser Tavinier saying no hesitation in agreeing wage deferral to save jobs.
The next paragraph then says that they will be taking advantage of retention scheme to pay off field staff 80% wages so the deferral is nothing to do with keeping off field staff. I am sure Fraser Wishaw the will be all over this like he was with Hearts doing the same weeks ago.
Kamberi is on loan, who will pick up the tab,
Who will pick up the tab on outstanding transfer payments?
Asking for a friend…….
Maybe they have to find the taxman’s money first, before they can get the SFA money or switch to furlough,its dark in our shadow
Defer 50% of their wages. Offload then as transfer window opens. They then whistle Dixie for their monies owed once outside the club.
It’s like telling the provident guy from all those years ago you can’t pay this week but at some point you still have to pay him .
A Provie cheque is the only loan they don’t have.
Lol don’t give them ideas.
Phil; if it went pear shaped for them, meaning some sort of insolvency, would the deferred salaries not fall under football debts that the sofa would have to cover?
Now that truly is some magically,devilish illusion,the very folks that run their business on the ‘never never’ are actually agreeing to their own/klub’s preferred method of payment…ie.NEVER
Or
At least that far off on the distance,it just seems like never😉
Phil ‘always first’ MacGiolla Bhain G’luck🍀1st Class.
STAY HOME,KEEP SAFE AND WELL✅
On their knees crawling inevitably towards administration, liquidation then history.
Yes you called this just a matter of days ago. It seems to me that crowds at football matches are also going to be “deferred”, and I suspect for some time. And longer than 3 months. Clearly Park is “downsizing” as quickly as he can and this is all he can do if he is not to lose players for nothing. I wonder what a “reduced fee” means
That’s a very good question about the “reduced fee. Who is the arbiter of that? This looks like a clearance sale using the virus as an excuse.
Seems to me the only they would survive was to defer that load. Let’s be honest though there will be no real change in the football landscape for a long while.
Stay safe folks 🙏