I think, in Smith's specific case - he was developed, not bought so no 3rd
party 'owned' him or his registration as they did with Dacourt, for example.
We may have exaggerated the book value of players (Kewell for example - his
transfer fee went to his arsehole of an agent, anyway!) but that was merely for
mortgaging purposes wasn't it?
in any case, the point remains that any money in in those days went to paying
off debts?
Makes me a bill ill thinking about it all
>
> Its a long time ago and I don't remember all the details, but if I'm not
> mistaken that logic -- which would be spot on in most contexts -- did not
> apply at the time because all of the player contracts were hocked. In other
> words, that 7 million quid did nothing for us. It reduced a mountainous debt
> by a minimal and barely perceivable amount.
>
>
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John 'Grampa' Sykes
Rest In Peace old lad
28th Oct 1938 - 12 Nov 2013
MARCHING ON TOGETHER
