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Eight English Football League clubs are now under transfer embargoes a month before the season
SELR_addicks
Posts: 15,446
Derby, Reading and newly-promoted Hull are among eight English Football League clubs under transfer embargoes a month before the start of the new season.
The embargoes limit a club's ability to make signings, with sanctions preventing transfer fees being paid.
Fleetwood Town and Gillingham from League One have also been sanctioned.
Swindon Town, already struggling with off-field issues, plus Oldham Athletic and Scunthorpe United are the three League Two teams under embargoes.
The EFL have started publishing a list of clubs under embargoes following a change in regulations voted for by EFL clubs last month.
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Comments
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A bit of a change since when we were under embargo and not even the management team knew about it!
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I missed the regulation change where EFL can now publish who is under embargoes. Good that clubs can’t hide from this anymore.13
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Swindon will be gone I cant see them being able to start the season if they only have 7 1st team squad members and havent paid staff for June !0
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Probably see why The Gills are holding out for as much as they can over Tucker.0
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Would be interested to learn more about what Hull have done, considering it will refer to what they spent etc last season in League 1.2
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Why aren't the massives on the list.1
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The linked BBC article mentions "conditions over monitored loan agreement" with regard to a previous transfer. No idea what that means. Who did they have on loan last season.....Wilks ? Whatever they did I'm sure they benefited from it.stoneroses19 said:Would be interested to learn more about what Hull have done, considering it will refer to what they spent etc last season in League 1.
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The article says they’ve been released from it since relegationsouthamptonaddick said:Why aren't the massives on the list.0 -
I think it's a money loan that it refers to, not a player...golfaddick said:
The linked BBC article mentions "conditions over monitored loan agreement" with regard to a previous transfer. No idea what that means. Who did they have on loan last season.....Wilks ? Whatever they did I'm sure they benefited from it.stoneroses19 said:Would be interested to learn more about what Hull have done, considering it will refer to what they spent etc last season in League 1.1 -
Note to self read full article before moaning.stoneroses19 said:
The article says they’ve been released from it since relegationsouthamptonaddick said:Why aren't the massives on the list.
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But hopefully no funds to actually do anything!stoneroses19 said:
The article says they’ve been released from it since relegationsouthamptonaddick said:Why aren't the massives on the list.0 -
There by the grace of TS mate. I think some people forget how lucky we were to get out of that mess still existingstonemuse said:
Having read that article, it certainly seems so ... hadn't realised it was quite so bad!AndyG said:Swindon will be gone I cant see them being able to start the season if they only have 7 1st team squad members and havent paid staff for June !
Hope they get through it.11 -
supposedly have a buyer waiting to do the deal but Lee "Millwall supporter" Power is still obstructing the takeover.stonemuse said:
Having read that article, it certainly seems so ... hadn't realised it was quite so bad!AndyG said:Swindon will be gone I cant see them being able to start the season if they only have 7 1st team squad members and havent paid staff for June !
Hope they get through it.0 -
Aren't these loans the ones the premier league made available to lower league clubs that effectively put them under a salary cap?
Edit: it's all here https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed/
"In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations."1 -
Not quite sure what that means in terms of what Hull have done & why they are now embargoed.Cafc43v3r said:Aren't these loans the ones the premier league made available to lower league clubs that effectively put them under a salary cap?
Edit: it's all here https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed/
"In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations."
The above statement by the EFL seems to says that if you took the Grant & then didnt stay inside their parameters then the Grant had to be repaid. If this is what Hull have done then why an embargo ?
All very confusing0 -
Taking the loan effectively put you under a "soft embargo" because the terms state you can't use it to increase your costs.golfaddick said:
Not quite sure what that means in terms of what Hull have done & why they are now embargoed.Cafc43v3r said:Aren't these loans the ones the premier league made available to lower league clubs that effectively put them under a salary cap?
Edit: it's all here https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed/
"In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations."
The above statement by the EFL seems to says that if you took the Grant & then didnt stay inside their parameters then the Grant had to be repaid. If this is what Hull have done then why an embargo ?
All very confusing
There is a thread on here somewhere with the micro detail in it.0 -
It was a loan to help pay existing commitments which might have been an issue due to covid restrictions, not to increase spending by signing ‘extra’ players. Seems perfectly reasonable to me.addick1956 said:
So you can't use the loan to increase your debt by raising existing expenditure. It is a loan to help ease existing debt only. 🤔Cafc43v3r said:
Taking the loan effectively put you under a "soft embargo" because the terms state you can't use it to increase your costs.golfaddick said:
Not quite sure what that means in terms of what Hull have done & why they are now embargoed.Cafc43v3r said:Aren't these loans the ones the premier league made available to lower league clubs that effectively put them under a salary cap?
Edit: it's all here https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed/
"In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations."
The above statement by the EFL seems to says that if you took the Grant & then didnt stay inside their parameters then the Grant had to be repaid. If this is what Hull have done then why an embargo ?
All very confusing
There is a thread on here somewhere with the micro detail in it.1
