Corporate_Clive
Well-known member
- Joined
- 30 Dec 2017
- Messages
- 1,109
I appreciate the detailed explanation Mark.Not necessarily - there are or were loan notes due to ENSCO of £4,275,708 by some date in 2019. Cash received from sales of O'Dowda, Roofe, Lundstram and Johnson get paid into a separate bank account, of which £3,275,708 gets paid to Ensco in instalments due April 2018, September 2018 and final in 2019.. If the residual transfer fees and any current or future player sales exceed that amount (£3,275,708 in total), then the club gets to take the excess out of the account.
So depending on whether the transfer cash coming in is enough to repay Ensco in full, then at some point Eales doesn't get any further profits. I don't think FA rules allow him to claim a sell-on clause due to player ownership rules, but did enable him to put in a deferred payment arrangement based on transfer fee cashflows.
To confirm, Tiger has to make the payments, as per the agreement, no matter what has been generated via transfer income of said players?