Evans: It restricts our reinvestment considerably
Owner Marcus Evans has confirmed that Town were one to the clubs who voted against the introduction of salary caps.
The much anticipated salary caps were finally implemented this week, with a £2.5m cap now in place for League One clubs this season.
Despite being one of the seven clubs to vote against the new regulation, Evans believes Town will be restricted in the market, the decision needs to be accepted.
“I have said before that I think football needs to press the reset button in terms of some of the financial aspects of the game,” Evans told the club site.
“But we were against the introduction of the salary cap in this format at this stage. It restricts our reinvestment considerably.
“However, a decision has been made by the majority of clubs. We accept it and will deal with it going forward.
“All clubs are in the same boat so wages are going to be facing a downward pressure. It will take a little time for agents and players to realise that clubs just can’t pay more and start to accept the reality of these new levels.”
Any contract entered into on or prior to today’s vote will be treated as if they are earning the £113,000 per annum.
Any club found guilty of overspending will be penalised, if a club’s expenditure is within over 5 per cent of the £2.5m cap there will only be financial penalties to pay. If it tops that sum, then sanctions such as points deductions could be implemented.
During a transitional 2020/21 season clubs will be permitted 22-player squads, with the a view to 21 and then 20-player squads in the following seasons.
Town currently have 19 players aged 21 and over who made first team appearances in 2019/20 plus striker Aaron Drinan and keeper Harry Wright.
Each club will be able to use an unlimited amount of players under the age of 21. So for example, Armando Dobra would not need to be registered to play as he is only 19, but Alan Judge would.
Wages paid to players under the age of 21 would be exempt from these caps under the plans.
There will also be allowances for clubs relegated from the Championship with respect of a club’s squad salary cap calculation with the key element of these aimed at addressing committed contracts and within the relegated clubs.
Picture: ITFC Website