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SWINDON TOWN: Wray confirms Town's transfer embargo
6:04pm Saturday 6th October 2012 in Sport
SWINDON Town chairman Jeremy Wray has confirmed that the club are currently under a Football League transfer embargo.
The revelations that Town have been banned from registering new players were made by manager Paolo Di Canio after his side’s 1-0 win at Bury this afternoon.
The embargo is a result of the club exceeding the spending limit of 65 per cent of their turnover, with Swindon’s calculations currently showing an expenditure of around 66.5 per cent, according to Wray.
The chairman moved to allay fans’ fears, insisting that the situation is easily resolvable, and he revealed that it was a tribunal panel’s decision that the fees due for Troy Archibald-Henville and James Collins had to be paid up front rather than in instalments that has caused the situation.
“It’s just as a result of the tribunal findings, as a result of the way that cash has to be paid up front on James Collins and Troy Archibald-Henville,” he said.
“The board has to address what we do at the moment. It’s not the transfer window, it’s the emergency loan period.
“It sounds very dramatic but there are several clubs under embargo throughout bottom two leagues. The wage cap was deliberately introduced so clubs can only spend an amount of money.
“If Paolo needs new players he has to tell the board and then we can go from that.
“In the normal course of events, if they had been straightforward transfers, half of the money would have been paid this year and half in 12 months’ time.
“In terms of a wage cap it’s about cash. As a result of the tribunal the whole amount is due and that is reflected in our wage cap calculations just for this year and that would take us over the threshold.
“We showed that, we submitted the documents. There are ways to correct that.
“If we get a win against Aston Villa then that’s unbudgeted revenue and that would help greatly. We’ve made Paolo aware of that as soon as we knew that to tell him as it stands the club is under embargo so we can’t just dip into the emergency loan market.
“If you look down, we see the salary documents of other clubs, everyone’s pressing as much against the seams as they can.
“We’ll look at our revenue projections, our cost projections and see what we can do.”
Some fans are concerned that Di Canio, who is keen to bring in new faces following injuries to Andy Williams, Alan McCormack and Gary Roberts, could walk away from the club if the situation isn’t resolved.
But Wray does not think that will be the case.
He said: “I haven’t heard what he said but that’s not my understanding of what he’s saying. He’s saying we have to be realistic.
“What he’s saying is to maintain this level is not easy. We’re fighting a promotion battle and you need a full squad of fit players. We’ll look at all the options that are available.
“I don’t think it’s a situation where fans need to panic or be concerned. We all know how honest he likes to be with the fans. He’ll be thinking tonight if he is to continue to succeed at this level he needs reinforcements.
“I don’t think he’s annoyed with the board.”