it's a very standard concept

there are even specific provisions in the Companies act and tax legislation covering them.

And instead of getting in a tizz over it, think about what some of the reasons might be? (Given none of us actually know)

It could just be a non-contractual 'thank you' for past service.

It could be a deal made so that he left before the end of his notice period so that the club could get on with appointing a replacement (eg would you rather he hung around for 12 months, collecting his salary and performance related bonuses, whilst not giving a tug about the future of the club?)

Maybe he had some dirt on Delia?

Maybe they caught wind that he was going to sell Hoolahan if he stayed longer?

Who the f**k knows, apart from the club's executive team and the shareholders who would have voted to approve it.

Just console yourself that HMRC will collect a very very healthy wedge of that payment.

Posted By: CWC on October 29th 2016 at 10:22:40

Message Thread

David McNally resigned. Why the hell was he (NCFC) - Jim, Oct 29, 08:32:52
- Would have been in his contract presumably, rather than a decision taken at time of his de (n/m) (NCFC) - Azteca, Oct 29, 08:51:40
  - Departure (n/m) (NCFC) - Azteca, Oct 29, 08:51:52
- mcbonus got pay off despite relegation - ridiculous (NCFC) - pab, Oct 29, 08:40:09
  - He resigned before relegation (n/m) (NCFC) - Charles21, Oct 29, 09:53:17
    - & Roeder was never in the bottom 3 (n/m) (NCFC) - samcd84, Oct 29, 12:50:18
- At least he left us in a much better financial state than what he inherited (NCFC) - Hit Squadie, Oct 29, 08:36:35
  - The point was why was he paid for resigning (NCFC) - SCC 28, Oct 29, 08:41:50
    - Would it be provided rata bonus for the percentage of the year he was here? (n/m) (NCFC) - Pixelman, Oct 29, 08:56:25
      - accounts state £nil "under long-term incentive scheme accrued in previous years" (n/m) (NCFC) - Ralf Scrampton, Oct 29, 10:49:50
    - They obviously agreed some sort of "mutual consent" arrangement after (NCFC) - Jim, Oct 29, 08:42:38
      - Hardly a shambles (NCFC) - SimonOTBC, Oct 29, 09:01:44
  - He also left us relegated and with a bang average manager. He should not (NCFC) - Jim, Oct 29, 08:40:32
    - All our managers are bang average, some have success while they are here (NCFC) - watfordcanary, Oct 29, 10:01:40
    - he resigned a week or so before we were officially relegated - no coincidence (NCFC) - pab, Oct 29, 08:48:27
      - his contract terms would have paid him out a lot less after relegation was confirmed (n/m) (NCFC) - pab, Oct 29, 08:56:04
        
        very much doubt it, probably the other way around (NCFC) - CWC, Oct 29, 09:36:59
        
        no, i meant to include the word 'probably' (n/m) (NCFC) - pab, Oct 29, 09:01:20
        
        Are you an expert in the remuneration of executives? (n/m) (NCFC) - SimonOTBC, Oct 29, 09:03:26
        
        Don't think much expertise is required (NCFC) - SCC 28, Oct 29, 09:08:49
        
        That's a different question (NCFC) - SimonOTBC, Oct 29, 10:29:50
        
        It's not, you're right. Executive remuneration sticks in the craw (NCFC) - Azteca, Oct 29, 10:34:55
        
        Seen it have you? (n/m) (NCFC) - Azteca, Oct 29, 08:59:34
      - He shouldn't get anything. (n/m) (NCFC) - Jim, Oct 29, 08:50:29
        
        Contract is a contract (n/m) (NCFC) - loz, Oct 29, 08:54:31
        
        Yes but whoever negotiated a contract that provided for such a payment in such (NCFC) - Jim, Oct 29, 10:03:13
        
        Very good. Except you don't actually know the details of the payment (NCFC) - SimonOTBC, Oct 29, 10:26:47
        
        it's a very standard concept (NCFC) - CWC, Oct 29, 10:22:40
        
        I'm not in a tizz about it - obviously there will be a reason we agreed to pay it but (NCFC) - Jim, Oct 29, 10:45:19
        
        It certainly reads like you're in a tizz. (n/m) (NCFC) - lurd, Oct 29, 11:02:35
        
        Right (n/m) (NCFC) - Jim, Oct 29, 10:45:34
        
        And we'll get a tax deduction for it too (NCFC) - SimonOTBC, Oct 29, 10:34:44
        
        fat cat is a fat cat (n/m) (NCFC) - SCC 28, Oct 29, 09:07:42
        
        You got the skill set then you got the skill set (n/m) (NCFC) - loz, Oct 29, 09:13:50
    - 2 consecutive Prem relegations too (n/m) (NCFC) - SCC 28, Oct 29, 08:42:32
      - And also promotions of course (n/m) (NCFC) - Bravo win or die, Oct 29, 08:58:31
        
        There's only one division that we spent consecutive seasons in during mcnally's time here (NCFC) - SimonOTBC, Oct 29, 09:05:27
        
        But he resigned upon 2 Prem relegations (NCFC) - SCC 28, Oct 29, 09:12:07
        
        That's a sensible point (NCFC) - SimonOTBC, Oct 29, 09:27:49
        
        Usually it's payment in lieu of notice period isn't it? (NCFC) - Jim, Oct 29, 10:28:49
        
        Wasn't he on a 12 month rolling contract? (NCFC) - SimonOTBC, Oct 29, 10:31:24
        
        I don't know, he was clearly on a very lucrative contract (NCFC) - Jim, Oct 29, 10:42:06
        
        I don't think running a football club is as easy as you think (NCFC) - SimonOTBC, Oct 29, 10:47:01
        
        Running a football club is really easy.... (NCFC) - usacanary, Oct 29, 12:51:27
        
        It's not generally a shambles no. But I do think the contractual arrangements that led to (NCFC) - Jim, Oct 29, 10:53:49
        
        You'd be the first to complain if we took a stance (NCFC) - Azteca, Oct 29, 10:58:12
        
        LOL McNally was one of the highest paid in the premier league (n/m) (NCFC) - SCC 28, Oct 29, 11:18:53
        
        I was referring to the inclusion of a Golden Goodbye in the contract (n/m) (NCFC) - Azteca, Oct 29, 12:02:02
        
        I'm sure that reflected his monster salary (n/m) (NCFC) - SCC 28, Oct 29, 12:18:56

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