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David Joyes says salaries will not be a problem this season

At the Fans Forum meeting on 23rd June Chief Finance officer David Joyes made it clear that the salary cap management protocol (whereby player costs must not exceed 60% of turnover) will not be a problem this season for Charlton Athletic. This was in response to CAS Trust's asking whether the owner might need to inject equity (rather than loans) to comply with the rules this season, given that there are a number of players on long contracts with high wages.

David stressed that the club have plenty of headroom in terms of SCMP forecast. He explained that it is not just turnover but also 100% of “football fortune income” (including player trading) that goes into the top line of the calculation. The player trading element of football fortune income is calculated on a cash basis rather than P&L and so the club benefits from the deferred elements of 16/17 player sales in the 17/18 SCMP calculation.

http://www.castrust.org/2017/07/david-joyes-salary-cap-protocol-not-a-problem/

Comments

  • Didn't share Katrien's salary then?
  • I wonder who our highest earners are

    I would imagine

    Tex
    Watt
    Sarr
  • Vetokele is up there.
  • Phillips
  • Ceballos maybe?
  • I look forward to the point in time where we are told that we have to sell someone to enable us to stay within the formula on wages. Holmes or Konsa next.
  • Oggy Red said:

    Naby Sarr.

    He's the highest earner at 6 foot 4 inches.

    Well Holmes and Da Silva must be amongst the lowest earers then.
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  • All the while this regime and its pet auditors are preparing the figures they'll claim they're abiding by the rules, just like the emoluments of director K Meire aren't "director's emoluments", cos katy and roly say so; so there. That and any player for whom an acceptable (to the addled noggin of the absentee president) offer is received will be packed off at 5 to the deadline regardless of the state and needs of the squad. The habitually undisclosed proceeds of any such sale can then go into roly's magic abacus to produce the old buffoon's required calculation. And there ain't a thing the football league will do about it.
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