David Joyes – salary cap protocol not a problem

At the Fans Forum meeting on 23rd June Chief Finance officer David Joyes made it clear that the salary cap management protocol (whereby player costs must not exceed 60% of turnover) will not be a problem this season for Charlton Athletic. This was in response to CAS Trust's asking whether the owner might need to inject equity (rather than loans) to comply with the rules this season, given that there are a number of players on long contracts with high wages.

David stressed that the club have plenty of headroom in terms of SCMP forecast. He explained that it is not just turnover but also 100% of “football fortune income” (including player trading) that goes into the top line of the calculation. The player trading element of football fortune income is calculated on a cash basis rather than P&L and so the club benefits from the deferred elements of 16/17 player sales in the 17/18 SCMP calculation.