Surely an administrator will make a financial judgement in order to ensure creditors etc are able to recover some or even all of the cash they are owed. With regard to our position then it may well be better to continue paying staff to ensure the club can continue playing matches that will generate income in excess of expenditure. Ok whilst the season is in progress but with full time players there is a liability for summer wages when there is no income.
Not an expert on redundancy but are players on contracts as opposed to general payroll terms.
The problem is that players may be concerned they may have payments stopped once the season ends so this factor could be having an effect on individuals and their performances.
There may be someone out there who sees TUFC as a good investment but other than the name there are no real assets to support any investment.
Search found 2 matches
- 17 Mar 2024, 16:26
- Forum: All things Plainmoor
- Topic: Staying Up - Relegation Battle
- Replies: 206
- Views: 56327
- 25 Feb 2024, 15:50
- Forum: All things Plainmoor
- Topic: Where's the money going?
- Replies: 74
- Views: 8374
Where's the money going?
No idea how much finance is required to operate Torquay FC but all the various calculations would seem to overlook the fact that VAT is chargeable on admission receipts. VAT is a complex area but in broad terms for every £12K in gate receipts mean £10k for football and £2k for HMRC.
And the latter seem to take priority in the pecking order for payment along with any administrator appointed. Another factor that is being overlooked is that full time contracts would need to be through summer months when there is no football income.
And the latter seem to take priority in the pecking order for payment along with any administrator appointed. Another factor that is being overlooked is that full time contracts would need to be through summer months when there is no football income.
