How the fees will be spent
Exeter City Chief Executive and Vice Chairman Julian Tagg, Director of Football Steve Perryman and Hugh Simms, barrister and friend of the club, went to London yesterday for the Professional Football Compensation Committee tribunals for James Dunne and Troy Archibald-Henville, (read the verdicts here
) below is the reaction from Paul Tisdale and Julian to the news.
Manager Paul Tisdale said: The first thing to say on this subject is that we’ve known for a long time that there is a possibility of compensation fees for these players, even going back a year we were aware that even though we offered them new contracts that we could possibly be in the situation when they chose not to sign.
“You never actually know how much until the tribunal panel sits so there was an element of anxiety going into that. But I have to say Julian Tagg put a lot of work in with the barrister and solicitor to make sure we did everything right for the tribunal.
“Having known this for quite a while we discussed it. And over the course of the summer we have been very safe in spending money in advance of this. Not a lot but some. So some of the money is already spent in the playing budget – the board were good enough to put some money into the budget in readiness for this tribunal but weren’t prepared to be too speculative. This money is not all going to come flooding in and mean a lot.
“But the best thing for me is when a team and squad is doing well that any money during the course of a year can be spent on reinvesting into the team and keeping those players on new contracts once we get into the new year. Towards the end of this season it will become very useful investing into the playing staff we already have – who are doing very well.
“Any money coming in is good money for us. It is certainly something we are due and something we were hoping for.
“When you have good young players that you take from other clubs and you develop them and make them better players and they go on to earn more money elsewhere it is only right under the system that we gain from it. As we’ve seen today we have picked up some good tribunal compensation fees.
“It will all go back into the club and look to be invested in the next young players.”
Julian Tagg added: “The board was comprised of QC Robert Reid, Nick Cusack was from the PFA and John Duncan from the LMA, Mike Tattersall from the Football League and it was conducted in excellent fashion.
“We have already used a significant amount of the money, in the sense that at the beginning of the season the board had to make a judgement call on what was likely to happen.”