The Virtual Terrace • Future of the Game
dboy wrote:
They can't use this money to prop up or replace furloughed wages. It's a fine line of distinction.
Let's say you lose a sponsor who has funded an element of your community programme - you can replace that lost revenue with the loan, to maintain your original provision, including the staff wages. Odd one isn't it?
Of course, it has to be repaid and any organisation that was seen to have excess money leaving it later down the line e.g. an extraordinary payment to board members, owners, shareholders, could expect an auditing visit from the HMRC compliance unit.
If it is true that Player Welfare Officers have been 'laid off' it may be a good idea to get them back,sharpish,to not only deal with the players,but perhaps the board of directors who have to complete the paperwork to apply for the loan,while bearing in mind how it is to be repaid with the spectre of another outbreak of the virus possible in the autumn/winter.
Not easy,and an extremely difficult task to establish what the club priorities may be right now,and into the future,immediate and longer term.
At least the governing body,and HMRC,should have a handle on all clubs just in case they suddenly decide to go back to Licensing - which they apparently didn't have the last time.
Statistics: Posted by Ornery Optimist — Mon May 04, 2020 2:56 pm — Replies 436 — Views 18404