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Sammie Szmodics - Signs for Peterborough


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Ultimately the club have done right by the player enabling him to get on with his career which stalled here .

The few chances he had to press his claim weren’t taken by him, through trying too hard or nerves , who knows ? .

 I feel we have too many of his type of player at the club so it is no surprise that he’s gone . We had to balance the books a bit as well and SS had suitors so sadly it’s his  City career over . 
 

I wish him well and hope we have a sell on fee. 

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On 19/08/2020 at 19:32, GrahamC said:

Don’t think Sunderland have any money at all, so I cannot see how he will end up there.

Feel sorry for him, yet another baffling Ashton signing when we already had Paterson & then added Palmer.

As others have said if Peterborough sell Toney then it would make far more sense for him to end up there.

At the time Palmer was on tour with Frank Lampard's chelsea and there was a chance he would stay there. I think we signed SS as a calculated punt back up plan. Unfortunately he became surplus to requirements very quickly once Palmer signed.

I think you could read the same with Eisa and Adelakun. See if they can make the step up and as long as you can recoup your outlay everyone wins.

It would be great if all signings work out but sadly not all do

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By my back of a fag packet calculation, he got 172 minutes play time for us last season. More chances given than Mo Eisa got ,to name but one we discarded but who bangs 'em in at lower league level. 

Szmodics never seemed remotely to get into the game. You have to ask, who you'd drop to risk giving him game time now?

This move is right for us, right for him and makes for decent business IMO.

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1 hour ago, Snufflelufagus said:

No mention of sell on fee. But we have a vast array of midfielders and ultimately can't play them all.

I don't think we've sold one single player without a sell on clause since Andy Cole signed for Man Utd.

13 minutes ago, Redrascal2 said:

What a waste of a good player. Typical Johnson. Sign them , never give them a decent chance and sell them. Let's hope these days are over now he has gone.

Only on OTIB can an ex manager be blamed for his successor selling a player! ?‍♂️

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51 minutes ago, Swede said:

At the time Palmer was on tour with Frank Lampard's chelsea and there was a chance he would stay there. I think we signed SS as a calculated punt back up plan. Unfortunately he became surplus to requirements very quickly once Palmer signed.

I think you could read the same with Eisa and Adelakun. See if they can make the step up and as long as you can recoup your outlay everyone wins.

It would be great if all signings work out but sadly not all do

No argument from me.

With Eisa & Szmodics we have more than got our money back, too.

Adelakun? Not so much..

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1 hour ago, Redrascal2 said:

What a waste of a good player. Typical Johnson. Sign them , never give them a decent chance and sell them. Let's hope these days are over now he has gone.

Trouble was, when he was picked he didn't really do anything, looked a bit lost. Probably needed more time to adjust but there's been so much competition for places in our squad that you have to take your chance and make an immediate contribution when opportunity knocks (apart from academy players).

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1 hour ago, Steve Watts said:

I don't think we've sold one single player without a sell on clause since Andy Cole signed for Man Utd.

Only on OTIB can an ex manager be blamed for his successor selling a player! ?‍♂️

Especially when it’s the ongoing MO of the club and in the hands of the CEO!

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1 hour ago, Lrrr said:

Would probably need @Mr Popodopolous or @Davefevs on this being in better knowledge than myself but normally fees are amortised but not sure how it works with compensation. 

My understanding is it doesn't change the amounts, but it's more of an accounting trick to spread the value of a contract over it's length as you've said. It won't change the underlying figures though. I don't think compensation changes anything.

If we have amortised 250k of his 750k value after this first year, then he's worth 500k still in our accounts - that is, we're saying he's cost us 250k already, so has 500k left to cost us. If we have now sold him for 1m, we can mark a +500k player profit in the books for this year (sale value - remaining amortisation). Doing it the more intuitive way, we'd mark -750k last year, and +1m this year which ends up much more "spiky" and harder to predict/plan on. That's my understanding behind the reasoning anyway.

The "profit" would be marked in the clubs accounts differently, but I think what most of us consider "profit" is 250k. Then you minus the wages etc.

I could be wrong though!

edit: rereading your post you probably knew this already..!

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I think the club did well throughout the whole Szmodics process signing to selling.

Low to no risk signing because of the compensation paid.

Always an opportunity to make something back on him if it didn't work out.

If it did work out, great!

I support the club taking gambles on the Eisa, Adelakun, Szmodics types.

And he seems like a nice guy so good luck to him!

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1 hour ago, Lrrr said:

We bought Mo whereas Szomdics was compensation so would be more comparable to Brownhill and PNE wouldn't it? Purely depends what was in the compensation agreement, can see Colchester wanting more of it upfront so if there was any form of sell on can't see it being much. Also £750,000 we paid in compensation would have been spread over the 3 seasons so £250,000 on our books vs the rumoured £1m - £1.5m seen bandied about online so could be anywhere in the £750,000 to £1.25m area for profit on the transfer. Wages I would guess a max of 6k a week based on the fact he joined us over Peterborough for champ football rather than money so nudge over £300,000 for wages for the season, assume P'boro would have paid at least half from Jan so I'd guess maybe £175,000 paid in wages. So books wise would make it anywhere between £575,000 - £1,075,000 profit wouldn't it?  

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1 hour ago, Lrrr said:

Would probably need @Mr Popodopolous or @Davefevs on this being in better knowledge than myself but normally fees are amortised but not sure how it works with compensation. 

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10 minutes ago, IAmNick said:

  

My understanding is it doesn't change the amounts, but it's more of an accounting trick to spread the value of a contract over it's length as you've said. It won't change the underlying figures though. I don't think compensation changes anything.

If we have amortised 250k of his 750k value after this first year, then he's worth 500k still in our accounts - that is, we're saying he's cost us 250k already, so has 500k left to cost us. If we have now sold him for 1m, we can mark a +500k player profit in the books for this year (sale value - remaining amortisation). Doing it the more intuitive way, we'd mark -750k last year, and +1m this year which ends up much more "spiky" and harder to predict/plan on. That's my understanding behind the reasoning anyway.

The "profit" would be marked in the clubs accounts differently, but I think what most of us consider "profit" is 250k. Then you minus the wages etc.

I could be wrong though!

edit: rereading your post you probably knew this already..!

Pretty much Nick.

Keeping numbers simple and not worrying about it being September rather than a June transfer, we are looking at the following.

£1.25m from Peterborough (assumed fee).

We paid £750k (close enough time £720k quoted above).

On a simple net spend basis, that’s a £500k profit.

However, we probably owe Colchester 20% of that, so they get £100k, so from a cash perspective we’ve made £400k.  We might get some add-ons like promotion, or a future sell on too.  But that’s all in the future.

From an accounting point of view!

his contract is now worth £500k (£750k amortised £250k pa).

We sold him for £1.25m, so that’s £750k net, minus the £100k to Colchester, so in the books we will state a transfer profit of £650k.

The future wage bill is off the books.  If you want to add the cost of that over his time here, then if he was on £8k pw....then he cost us £400k (minus say 50% of half of it from Peterborough last season), so £300k in wages.  So back up to the cash part....he’s probably made us £100k!!

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1 minute ago, Davefevs said:

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Pretty much Nick.

Keeping numbers simple and not worrying about it being September rather than a June transfer, we are looking at the following.

£1.25m from Peterborough (assumed fee).

We paid £750k (close enough time £720k quoted above).

On a simple net spend basis, that’s a £500k profit.

However, we probably owe Colchester 20% of that, so they get £100k, so from a cash perspective we’ve made £400k.  We might get some add-ons like promotion, or a future sell on too.  But that’s all in the future.

From an accounting point of view!

his contract is now worth £500k (£750k amortised £250k pa).

We sold him for £1.25m, so that’s £750k net, minus the £100k to Colchester, so in the books we will state a transfer profit of £650k.

The future wage bill is off the books.  If you want to add the cost of that over his time here, then if he was on £8k pw....then he cost us £400k (minus say 50% of half of it from Peterborough last season), so £300k in wages.  So back up to the cash part....he’s probably made us £100k!!

Do we actually know how much Posh paid? I thought it was undisclosed. 

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Just now, Davefevs said:

 

The future wage bill is off the books.  If you want to add the cost of that over his time here, then if he was on £8k pw....then he cost us £400k (minus say 50% of half of it from Peterborough last season), so £300k in wages.  So back up to the cash part....he’s probably made us £100k!!

Question: Sure?

Although Sammie was undoubtedly happy to go to Peterborough and he was told he was surplus here, I don’t recall him asking for a transfer.

I have it in my head that if a player moves without requesting a transfer, and the new club don’t pay as much in wages, that the selling club must top up the wages for the duration of the original contract. As he’s going down a division having moved as an (in contract) free agent here and able to demand more in wages, it’s likely he’s on less at Peterborough- so do we retain a liability?

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1 hour ago, GrahamC said:

No argument from me.

With Eisa & Szmodics we have more than got our money back, too.

Adelakun? Not so much..

You say we have got our money back but we must have paid a lot in wages and sign on fees. Thing is all these players needed first team minutes like Walsh and Morrell had. It worked well for Eisa until he got injured too. 

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He could quite possibly turn out to be a great player and we may regret selling him, but we have far too many in the squad right now, and I think this is the right decision for both club and player. He seems a really nice bloke, and I wish him the best (except when playing against us) and that his sell-on nets us some cash down the line. 

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6 hours ago, Carey 6 said:

Add him to the list. 

Engvall, Adelakun, Eisa, Szmodics

That must be the list of players that simply weren't good enough, at least at this stage of their careers they aren't. Who knows what might happen to them in the next 2 or 3 years (crystal ball anyone?).

Certainly no names on there to whinge about, I wouldn't have thought.

COYR.

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2 hours ago, Top Robin said:

Another player who wasn't really given a decent chance under Johnson. Another one we may regret. 

Or rather, a player who didn’t merit more of a chance under Johnson.  If he had deserved a place, he would have been played.   There are always going to be players who don’t make the step-up from the lower divisions - Szmodics might have made it eventually, but it’s better for him to be playing.  I hope he does well.

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4 hours ago, Davefevs said:

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Pretty much Nick.

Keeping numbers simple and not worrying about it being September rather than a June transfer, we are looking at the following.

£1.25m from Peterborough (assumed fee).

We paid £750k (close enough time £720k quoted above).

On a simple net spend basis, that’s a £500k profit.

However, we probably owe Colchester 20% of that, so they get £100k, so from a cash perspective we’ve made £400k.  We might get some add-ons like promotion, or a future sell on too.  But that’s all in the future.

From an accounting point of view!

his contract is now worth £500k (£750k amortised £250k pa).

We sold him for £1.25m, so that’s £750k net, minus the £100k to Colchester, so in the books we will state a transfer profit of £650k.

The future wage bill is off the books.  If you want to add the cost of that over his time here, then if he was on £8k pw....then he cost us £400k (minus say 50% of half of it from Peterborough last season), so £300k in wages.  So back up to the cash part....he’s probably made us £100k!!

Over to you @BigTone

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