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Author Topic: Have Saracens broken salary cap rules?  (Read 4635 times)

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Re: Have Saracens broken salary cap rules?
« Reply #30 on: Tuesday 05-Mar-2019, 07:26* »
The question for me is really "Who paid what for the houses involved?"

Say it's a 50/50 split in shares between a player and Nigel Wray.
Say the house is worth 1m, and each put in 500,000 to purchase said house.
Dividends from the property company will be paid 50/50.
Presumably should the property be sold, that too would be split 50/50.
I can't see any  problem with this.

However, say Nigel Wray paid for the house and now the player gets dividends, loans from the company and a 50% share of the house selling price.
Clearly, that's a different kettle of fish.

Yes, but what if:

Wray lent the player the money for his 50% at zero interest
The player's shareholding automatically increases, incrementally, over the period of time he is at the club



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