Bermudian Green wrote:
Does anyone know the answer to this? Is anything being done for those made redundant, and are all the staff who took "cuts" being looked after?
Your answer will be found in this link
Link to libellous website removed. Admin.
Their answer from Babararacucudada
Much of this information is already in the public domain. The wages owed when administration ended was split into 2 different categories with players being owed £2,874,171 and staff being owed £444,304. It's all there in black and white in the P&A document (http://195.171.95.190/portal/ice/finalR ... 415391.pdf Appendix 6).
A repayment schedule for all of this was agreed in November 2011 (http://www.thisisdevon.co.uk/story-1373 ... story.html) where 14% of the money due was paid up front, another 7% per annum over 5 years with the balance to be paid at the end of 5 years.
So at this point in time something like 21% of the £444k (approx £98000) will have been paid to the staff by the club leaving around £346k outstanding.
The "accelarated repayment" side of the deal suggests that a little more might have been paid by the club with whatever the GTs and the auctions have contributed eating further, and quite substantially further, into the money still outstanding.
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Mon Oct 08, 2012 3:04 pm
He's even written a critical piece for Vitalite.
