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Chris Ashtons House.
Discussion started by Bristapo , 28 January, 2020 00:32
Chris Ashtons House.
Bristapo 28 January, 2020 00:32
[www.bbc.co.uk] Asking for a loan from the owner outside of his rugby contract...is that so wrong ? What if a player did the same with Steve Landsdown would we feel the same ?

Re: Chris Ashtons House.
TheVogon 28 January, 2020 03:11
Yes, its wrong. That's why they were fined £5 million.

Re: Chris Ashtons House.
Ernie Ball 28 January, 2020 07:06
This would be a benefit in kind and therefore comes under the salary cap.

Re: Chris Ashtons House.
Boiler99 28 January, 2020 07:24
The problem with Chris's explanation was, he described it as Nigel investing with him and that Nigel owned 20% of the house. But then goes on to say he repaid Nigel in full (and fairly recently).

This would make it a loan and not a joint investment, as Nigel has not benefitted in the rise in the value of the house.

It would also appear from other reports that no interest was paid on any of these loans and the Salary Cap officer indicated that he felt the loans weren't always paid back. I wonder if the current reporting was the reason Chris has now repaid?

I find the more you dig the more questions there are, requiring more and more detail.

The best (and quick) summary I have seen was on Brain Moore's twitter.

I also wonder when HMRC are going to get involved as to me there will have been tax to pay on some of this.

Re: Chris Ashtons House.
Cidered Abroad 28 January, 2020 09:05
With Ashton's legitimate rugby income, he wouldn't have any problem in getting a mortgage like normal people do.
Either he is a dozen bricks short of a load, or he believes his statement will reassure everyone that he did not believe he was doing anything wrong!

Re: Chris Ashtons House.
Gray_Lensman 28 January, 2020 09:27
The report says he couldn't get a mortgage because he was already mortgaged up to the hilt.

Another problem is that repayment of the loan was deferred so that although he owned 80% of the house he had sole use of it and didn't pay rent on the 20% he didn't own, plus the deferred repayment meant that effectively he had a £320k asset without having to pay anything for it.

The other issue is that the salary cap rules allow loans to be made by the 'club' to players but the player is required to repay the money in full during the salary cap year in which the loan is made otherwise it is counted as salary. Ashton clearly did not repay it in that SCY.

As the report says Saracens/Wray acted recklessly in going ahead with these things without consulting the SCM. Or apparently reading the Regulations which give a number of clues as to what constitutes salary

Re: Chris Ashtons House.
gaudi 28 January, 2020 10:09
Somewhere buried in the report thereís mention of his new employer paying for it, he went to Toulon and his new employer is a Wray loookilikie. (Business wise).

We donít know but use your imagination!

Itíll be repeated many times and the whole thing is a web of deliberate cap breaking and all the players involved claiming they didnít think they were participating in cap breach doesnít work for me. Any supplement to your salary counts as salary , simple, benefit in kind. Stick it on your P11D or whatever itís called these days.

I canít believe HMRC arenít already all over it, given the venom with which they went for me recently for numbers nowhere near as big.

Re: Chris Ashtons House.
AlexInSouthville 28 January, 2020 10:13
Cannot understand why someone at Sarries is not on the phone, pleading to likes of Ashton and Venter to stop talking.

They just spout emotive, unbalanced, ill-informed nonsense.

Re: Chris Ashtons House.
gaudi 28 January, 2020 10:28
Because as good as he is Ashton comes from the Haskell mould, self publicist, needs income from Blogs/podcasts etc to line the nest towards the end of his career to keep the image in the forefront.

Re: Chris Ashtons House.
Sarriebone 28 January, 2020 11:36
Quote:
gaudi
Somewhere buried in the report thereís mention of his new employer paying for it, he went to Toulon and his new employer is a Wray loookilikie. (Business wise).

The quote from NW in his statement, though I appreciate you may not believe it, is that he moved team and couldn't make the repayments, then moved team again and the new club owner paid it off. That would make it Sale paying it off rather than Toulon


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