Babylon Posted 23 July 2013 Posted 23 July 2013 Two years left? £15k x 104 weeks = £1.5 million + ... doesn't it? Thought he had just a year left?
Fox92 Posted 23 July 2013 Posted 23 July 2013 This pay off ought to come straight out of Neville's pocket. Sven's.
Happy Fox Posted 23 July 2013 Posted 23 July 2013 Leicester City â€@OfficialFOXES3m #LCFC reaches mutual agreement with midfielder Richie Wellens for the cancellation of his remaining contract. Tara Wellend
Jace Posted 23 July 2013 Posted 23 July 2013 All over the official pages now Leicester City Football Club has today (Tuesday) reached a mutual agreement with Richie Wellens for the cancellation of his remaining contract. The 33-year-old midfielder will become a free agent with immediate effect, after ending his four-year association with the Foxes. Wellens joined City from Doncaster Rovers in July 2009 and went on to make 149 first team appearances in all competitions, scoring six times and featuring most recently in a 2-1 defeat at Derby County in March. During the 2012/13 season, Wellens also spent a month on loan with fellow Championship side Ipswich Town, where he made seven appearances between October and November 2012. Leicester City would like to wish Richie well in his future career. Read more at http://www.lcfc.com/news/article/230713-wellens-departure-agreed-938543.aspx#LjDCBJFeSEIDEupO.99
lgfualol Posted 23 July 2013 Posted 23 July 2013 2 down, 5 to go. I'm really glad. What's that? 45k off the wage bill with him and beckford gone? Nice.
Babylon Posted 23 July 2013 Posted 23 July 2013 2 down, 5 to go. I'm really glad. What's that? 45k off the wage bill with him and beckford gone? Nice. Depends very much on how much we paid him off, I'm sure it will be the vast majority of his contract.
lgfualol Posted 23 July 2013 Posted 23 July 2013 Depends very much on how much we paid him off, I'm sure it will be the vast majority of his contract. Oh right, yeah, I didn't think of that. It's just nice to get rid.
Fox92 Posted 23 July 2013 Posted 23 July 2013 Official http://www.lcfc.com/news/article/230713-wellens-departure-agreed-938543.aspx
Jace Posted 23 July 2013 Posted 23 July 2013 I'm just wondering are football accounts done annually 1st August to 31st July? Is this possibly why we have seen such extreme action taken to adjust the wage bill accordingly before the 13/14 accounts start?
Charnwood Norris Posted 23 July 2013 Posted 23 July 2013 Glad he's gone. Clearly past his peak. He was at his peak (29-30yo) when we signed him. He could do well though in a lower league.
Solihullfox Posted 23 July 2013 Posted 23 July 2013 Sorry for the late reaction from me but I was driving.......him to Doncaster. No need for my sat nav as he just pointed all the way there.
berniethebolt Posted 23 July 2013 Posted 23 July 2013 I'm just wondering are football accounts done annually 1st August to 31st July? Is this possibly why we have seen such extreme action taken to adjust the wage bill accordingly before the 13/14 accounts start? 2013/2014 accounts are due end of Dec 2014. It appear the financial year ends 31st May 2014, so all this action is in our current 13/14 financial year. Looking at the FFP rules, there are no sanctions imposed at the end of the 13/14 season, so we basically have this season to be aggressive, post a massive cloth cutting loss and hopefully fall into the rules to avoid any sanctions for the 14/15 season.
ian the fox Posted 23 July 2013 Posted 23 July 2013 2 down, 5 to go. I'm really glad. What's that? 45k off the wage bill with him and beckford gone? Nice. agree , two useless f****** gone in a week , thinks are looking up ............
Sharpe's Fox Posted 23 July 2013 Posted 23 July 2013 He was just a good player who got old and got worse, like any other. He doesn't deserve any stick, good luck with the rest of your career, Richie.
DANGEROUS TIGER Posted 23 July 2013 Posted 23 July 2013 Just happy to see the back of him, but good luck to him anyway.
Finn Claw II Posted 23 July 2013 Posted 23 July 2013 HE played 46 times in the 2011-2012 season - not his fault he was rewarded with a massive bumper contract. As said above, he got old and worse and was replaced by better players. I reckon we've probably paid 50% of the next years wages to Beckford and Wellens - so I think you'll probably have to halve the 'saved' wages.
Finn Claw II Posted 23 July 2013 Posted 23 July 2013 2013/2014 accounts are due end of Dec 2014. It appear the financial year ends 31st May 2014, so all this action is in our current 13/14 financial year. Looking at the FFP rules, there are no sanctions imposed at the end of the 13/14 season, so we basically have this season to be aggressive, post a massive cloth cutting loss and hopefully fall into the rules to avoid any sanctions for the 14/15 season. I don't think there are any sanctions this season but there are from 2014/2015 - my understanding is that they are based on the preceeding season's accounts. See note 4 in the attached http://www.danielgeey.com/my-top-ten-tips-for-understanding-football-league-financial-fair-play/ IF that is true then this season's accounts very much count, the aim of the game is to post a loss within the acceptable allowances
Basingstoke Fox Posted 23 July 2013 Posted 23 July 2013 It's a massive shame that we gave these players such ridiculous contracts in the first place. Regarding Wellens, I wish him well. He was a great player for us on his day. Unfortunately, that didn't really happen often enough.
Greatness_Since_1884 Posted 23 July 2013 Posted 23 July 2013 You didn't receive any Beckford money Sorry meant money saved/will be saved on wages
Larry_LCFC Posted 23 July 2013 Posted 23 July 2013 Says hes a free agent? Doesnt mention anything about Doncaster...
Jace Posted 23 July 2013 Posted 23 July 2013 2013/2014 accounts are due end of Dec 2014. It appear the financial year ends 31st May 2014, so all this action is in our current 13/14 financial year. Looking at the FFP rules, there are no sanctions imposed at the end of the 13/14 season, so we basically have this season to be aggressive, post a massive cloth cutting loss and hopefully fall into the rules to avoid any sanctions for the 14/15 season. Oh right in that case then we still have another year anyway before we need to be within the regulations? I suppose with the transfer windows all work required would need to be done in this 1 and the January 1
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