Finances

FINANCE QUERIES SHOULD BE SENT TO PATRICK CUNNINGHAM

Following a consultation exercise on proposed rule changes for the 2009 season, there have been several key changes to the Finance Rules.  Please ensure you are aware of them.

Below are the finance rules for the 2009 season. All rules are made wth the best interests of fair and even competition in mind.

All teams shall receive, at the beginning of the regular season, a lump sum payment of £1,000,000 to be spent on training and trade administration fees during the course of the season.

ADDITIONAL PAYMENTS

Teams shall be awarded additional payments as detailed below:

  • Reaching the Semi-Finals of the Ellery Hanley Trophy and/or Trevor Foster Cup - £75,000 (and a further £75,000 for each subsequent game won).  For clarification, a team reaching the Final of either competition will receive £150,000 in total.
  • Submitting a Telegraph article (which must consist of no less than 200 words, be sent to the EIRL e-mail Yahoo! Group and include the word TELEGRAPH to qualify) - £10,000.
  • A further payment of £150,000 shall be made to teams reaching the play-offs which they will be able to use on physiotherapy only.

PRIZE MONIES

No prize monies shall be awarded during the season for winning any competition.

BALANCE SHEETS

The Finance Commissioner will send out balance sheets after each round of games to the e-group. These sheets should be taken as the definitive balance of your finances.

Any figures on your form guide should be ignored as they are not relevant, and certainly will not be correct.

You may not spend money you anticipate receiving.  If it is not on your balance sheet, it is not available to spend.

OTHER RULES

  • You must not give or loan money to another club.
  • You must only use the money on your current balance sheet when requesting training/trades for the following round.
  • You may not go into debt at any time.

ADDED 15TH MAY 2009

NEGATIVE TEAM FINANCE BALANCE

Should your team spend it's £1,000,000 team budget and then enter into a negative balance, the following shall apply:

1) Your most recent training will be reversed and the funds refunded back to your team account up to the amount of the account deficit (i.e. if you are £50,000 in arrears, only training up to this value will be reversed, not the entire request). You will NOT be able to re-use the training point regardless of funds being available at a later point. This will not be applied to physiotherapy. The discretion as to what player will have training reversed where there are more than one player with an equal training cost will lie at the discretion of the League President, in conjunction with the Training Commissioner.

2) In the event of a future breach which results in your team entering into a negative balance again during the course of the season, (1) above shall be applied again and your team shall incur a 1pt penalty from your league total. Future breaches shall result in a 2pt penalty being applied.

3) In the event that a coach who has been penalised with penalties (1) and/or (2) above relinquishes their team and a new coach takes over, the penalties previously imposed shall be reversed (the training point will be restored for later use - but will still have to be re-paid and the league total points shall be restored).

All of the above shall take effect from 15 May 2009 and shall not be applied retrospectively except in exceptional and specific circumstances.

If you are unsure of any aspect of the finance rules, or require further clarification, please ask the Finance Commissioner.

UPDATED: 15 MAY 2009