Jump to content
Sign in to follow this  
militantcanary

Transfer fees present and future

Recommended Posts

Apart from the utterly scandalous payment to someone who who got pissed up and appeared to do a runner with the player contracts the most eye catching feature is the transfer fees

Underneath is the payments due to us and which we have to pay for the next few years

17 DEBTORS

Group Company

2016 2015 2016 2015

£''000 £''000 £''000 £''000

Trade debtors 6,666 7,632 6,666 7,632

Player debtors 22,051 7,090 22,051 7,090

Amounts due from subsidiary undertakings - - - -

Deferred tax asset - 561 - 561

Other debtors 501 702 412 602

Prepayments and accrued income 686 834 686 834

Corporation tax - 2,739 - 2,739

Forward contracts 195 - 195 -

30,099 19,558 30,010 19,458

Included in player debtors above are amounts totalling £7.6 million (30 June 2015: £nil) falling due after more than

one year.

18 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company

2016 2015 2016 2015

£''000 £''000 £''000 £''000

Bank overdrafts 2,682 - 2,682 -

Directors’ loans - 1,989 - 1,989

Trade creditors 1,483 1,688 1,483 1,688

Player creditors 23,752 10,664 23,752 10,664

Receipts in advance 11,276 14,489 11,276 14,489

Other taxes and social security 9,656 5,769 9,656 5,769

Corporation tax 47 - 47 -

4.5% ''B'' preference shares of £1 each 1,430 1,421 1,430 1,421

Dividends payable on shares classified

as financial liabilities 58 58 58 58

Other creditors 335 357 335 357

Amounts owed to subsidiary undertakings - - 483 350

Accruals and deferred income 8,621 19,157 8,480 19,013

59,340 55,592 59,682 55,798

Directors’ loans of £1,989,000 were repaid during the year.

The 4.5% ‘B’ preference shares of £1 each are classified as repayable within one year. Where valid requests have

been received, subject to the Company being permitted to do so in accordance with its Articles of Association,

redemption will (subject to when the valid request was received) take place on 1 January 2017.

The bank overdrafts are secured by an assignment of future Premier League parachute payments.

NORWICH CITY FOOTBALL CLUB PLC

NOTES TO THE ANNUAL REPORT

For the year ended 30 June 2016

Page 29

19 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group and Company

2016 2015

£''000 £''000

Receipts in advance 50 170

5.25% ''A'' preference shares of £1 each 10 10

Accruals and deferred income 1,031 393

Player creditors 890 1,481

1,981 2,054

The amounts falling due after more than one year fall due for repayment as follows:

Group and Company

2016 2015

£''000 £''000

In one to two years

Receipts in advance 50 120

Accruals and deferred income 685 120

Player creditors 518 872

1,253 1,112

Group and Company

2016 2015

£''000 £''000

In two to five years

Receipts in advance - 50

Accruals and deferred income 346 273

Player creditors 372 609

718 932

Group and Company

2016 2015

£''000 £''000

In more than five years

5.25% ''A'' preference shares of £1 each 1

So I read this that we have 22M coming to us of which 7.6M fall due after more than 1 year

And 23.75 M payable within 1 year, 890K with 1 to 2 years

and then about 1.8M thereafter

So that''s an inbuilt net debt of 3.4M

We then come to contigency fees

25 CONTINGENT LIABILITIES

Additional payments amounting to a maximum of £17,481,540 (2015: £8,415,900) will become payable if certain

conditions in transfer and player contracts at 30 June 2016 are fulfilled. Additional signing on fees up to a

maximum of £5,898,400 (2015: £8,409,400) will become payable to players subject to the terms and conditions of

their contracts being fulfilled.

And then finally recent signings transfer dealings:

30 POST BALANCE SHEET EVENTS

Transfer of players’ registrations

Subsequent to the year end the Group has acquired the registrations of players S Canos, N Oliveira, A Pritchard, M

McGovern and P Jones.

In addition to N Redmond, whose registration was sold pre year end, subsequent to the year end the Group sold the

registration of R Van Wolfswinkel and cancelled the registration of V Odjidja Ofoe.

The net payment to which the Group is committed to in respect of these transactions is £12.6m with a maximum

further amount due of £9.0m dependent on Club and/or player performance.

That''s a total of 26.M further transfer fees contigent on various factors, rummoured to include 2M on Canos alone

I notice that there is no apparent contingent transfer fees coming to us on transfers. I also notice that we cancelled Ofoe''s contract which i find a disgrace and spend 12.6 on fees in the Summer up front so it looks like the Oliveria deal is very top loaded on us and him doing certain unspecified things

Any comments, I think the amount of contingency fees are absolutely massive personally though there is a school of argument which says most is dependent on promotion and if we get that who cares I guess

Share this post


Link to post
Share on other sites
There are no certainties in football transfers, even less so if you shop in the bargain basement, unfortunately.

You win some, you lose some.

Share this post


Link to post
Share on other sites
We are hardly shopping the bargain basement surely!!

Klose 7.6M

Naismith 8.5

Pritchard 8?

plus Pinto, Canos and Oliveria for another 10M approx

that serious money for this level, look at all our opponents this year apart from 2

We are committed to a big expenditure and if we don''t go up on the next 2 years we will have to make some v big sales to rebalance

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×