Contracts being cancelled, wages etc.

Was some discussion on here when the Port Vale Two signed about contracts being cancelled and then the player immediately signing for someone else.
Caught up with a friend last night, who's a seasoned ex pro and currently playing Conference South.
The first thing to say is there is no set rule, the arrangement depends on negotiation and the circumstances.
Generally speaking if the club knows that the player has got another deal in the offing they will play hard ball and will offer as little as 25% of the money outstanding (so if Amos was on £1000 p.w Vale might offer him as little as £6500). This is paid as a lump sum incidentally, free of tax. If the boot is on the other foot and the club want rid of the player he may well get up to 100% of his outstanding contract, just to get him out
The saving for the club is huge if the first instance is taken and still significant as bonuses and NI payments don't need to be made in either scenatio
Grimsby ,on the other hand, knowing full well that Amos has got a tidy little pay off from Vale may well offer a fraction of his current wages, especially if it's felt the player has little prospect of getting a deal elsewhere.

The example he gave was that he was out of favour at a League 1 club, with 6 months left on a £2k p.w. deal. He wanted out and had got an option to return to an old club, then in the Conference. He got a £28,000 payout, tax free (obviously he was in the 40% tax bracket, so would have only taken home that amount if he'd stayed) and then immediately signed for £800 per week in the conference.

on wages he says it's mental - he was offered double his present deal last week by a full time club on the South coast in the same division. Equally Rene Howe ( ex Torquay) ,is on £700 p.w. plus a lease car with Bedford Town in step 4! The other Bedford side , who are now owned by the supposed Bitcoin millionaire and are step 6 , are throwing equally stupid money around - he's been offered £350 per week to play against the likes Kidlington Town Reserves and Long Crendon!

Asked him about Alex Hunt - doesn't know him, but does know a young player who was a regular in the Sheff wed Championship team at the time when Hunt signed his present contract and was in and around the first team. That lad was on £15,000 p.w. and so, it was entirely possible that if Hunt was thought to have a future he would have got £5k p.w. At worst he thinks he would've been on £2 or 2.5 k p.a.

I think it was Gary Taylor-Fletcher who wasn’t wanted by Leyton Orient and they agreed to pay the difference for his drop in wages to go to Lincoln on a free transfer.

He was on about £900 a week at Orient and Lincoln agreed to pay him about £650 a week. So Orient would pay him £250 for each week that remained on his contract.

GTF mentioned this agreement to Keith Alexander when he was sorting out his deal at Lincoln and Big Keith provided him with a fake contract to take to Orient stating that Lincoln were only paying him £400 a week.

Orient duly paid him £500 for every week remaining on his contract.

Quoted from forza ivano

Was some discussion on here when the Port Vale Two signed about contracts being cancelled and then the player immediately signing for someone else.
Caught up with a friend last night, who's a seasoned ex pro and currently playing Conference South.
The first thing to say is there is no set rule, the arrangement depends on negotiation and the circumstances.
Generally speaking if the club knows that the player has got another deal in the offing they will play hard ball and will offer as little as 25% of the money outstanding (so if Amos was on £1000 p.w Vale might offer him as little as £6500). This is paid as a lump sum incidentally, free of tax. If the boot is on the other foot and the club want rid of the player he may well get up to 100% of his outstanding contract, just to get him out
The saving for the club is huge if the first instance is taken and still significant as bonuses and NI payments don't need to be made in either scenatio
Grimsby ,on the other hand, knowing full well that Amos has got a tidy little pay off from Vale may well offer a fraction of his current wages, especially if it's felt the player has little prospect of getting a deal elsewhere.

The example he gave was that he was out of favour at a League 1 club, with 6 months left on a £2k p.w. deal. He wanted out and had got an option to return to an old club, then in the Conference. He got a £28,000 payout, tax free (obviously he was in the 40% tax bracket, so would have only taken home that amount if he'd stayed) and then immediately signed for £800 per week in the conference.

on wages he says it's mental - he was offered double his present deal last week by a full time club on the South coast in the same division. Equally Rene Howe ( ex Torquay) ,is on £700 p.w. plus a lease car with Bedford Town in step 4! The other Bedford side , who are now owned by the supposed Bitcoin millionaire and are step 6 , are throwing equally stupid money around - he's been offered £350 per week to play against the likes Kidlington Town Reserves and Long Crendon!

Asked him about Alex Hunt - doesn't know him, but does know a young player who was a regular in the Sheff wed Championship team at the time when Hunt signed his present contract and was in and around the first team. That lad was on £15,000 p.w. and so, it was entirely possible that if Hunt was thought to have a future he would have got £5k p.w. At worst he thinks he would've been on £2 or 2.5 k p.a.

I am so crap at maths, that's left me flummoxed.  I need a diagram.

I’m still thinking about the Birmingham 6 and the Guildford 4 🤔

Great insight forza.