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Eight English Football League clubs are now under transfer embargoes a month before the season

SELR_addicksSELR_addicks
edited July 2021 in Other Football and Sports

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.


https://www.bbc.co.uk/sport/football/57760968

Comments

  • AndyGAndyG
    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 !
  • golfaddickgolfaddick
    Probably see why The Gills are holding out for as much as they can over Tucker. 
  • stoneroses19stoneroses19
    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. 
  • southamptonaddicksouthamptonaddick
    Why aren't the massives on the list.
  • golfaddickgolfaddick
    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. 
    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. 


  • stoneroses19stoneroses19
    southamptonaddick said:
    Why aren't the massives on the list.
    The article says they’ve been released from it since relegation 
  • Pedro45Pedro45
    golfaddick said:
    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. 
    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. 


    I think it's a money loan that it refers to, not a player...
  • southamptonaddicksouthamptonaddick
    stoneroses19 said:
    southamptonaddick said:
    Why aren't the massives on the list.
    The article says they’ve been released from it since relegation 
    Note to self read full article before moaning.  :(
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  • stonemusestonemuse
    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 !
    Having read that article, it certainly seems so ... hadn't realised it was quite so bad!

    Hope they get through it. 
  • PrincessFionaPrincessFiona
    stoneroses19 said:
    southamptonaddick said:
    Why aren't the massives on the list.
    The article says they’ve been released from it since relegation 
    But hopefully no funds to actually do anything!
  • Henry IrvingHenry Irving
    stonemuse said:
    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 !
    Having read that article, it certainly seems so ... hadn't realised it was quite so bad!

    Hope they get through it. 
    supposedly have a buyer waiting to do the deal but Lee "Millwall supporter" Power is still obstructing the takeover.  
  • Cafc43v3rCafc43v3r
    edited July 2021
    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."
  • golfaddickgolfaddick
    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."
    Not quite sure what that means in terms of what Hull have done & why they are now embargoed.

    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 
  • Cafc43v3rCafc43v3r
    golfaddick said:
    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."
    Not quite sure what that means in terms of what Hull have done & why they are now embargoed.

    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 
    Taking the loan effectively put you under a "soft embargo" because the terms state you can't use it to increase your costs.  

    There is a thread on here somewhere with the micro detail in it. 
  • Stu_of_KunmingStu_of_Kunming
    addick1956 said:
    Cafc43v3r said:
    golfaddick said:
    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."
    Not quite sure what that means in terms of what Hull have done & why they are now embargoed.

    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 
    Taking the loan effectively put you under a "soft embargo" because the terms state you can't use it to increase your costs.  

    There is a thread on here somewhere with the micro detail in it. 
    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. 🤔
    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. 
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