I don't know if you sporting types have been reading about the self-inflicted woes of Saracens RFC
They currently play in the English Premiership which has a salary cap, in a similar manner to other leagues/sports.
After an audit they were found to have breached the cap, and heavily fined and given a hefty points deduction in the league.
However their expensive players, by and large remained contracted.
A google search will reveal many articles e.g. here.
Reports now say they were given the ultimatum open your books or be relegated
and that they chose relegation.
(clearly they have been caught red handed).
So the question is, for gifted practitioners and students of finance, what were the structured finance solutions they
could have pursued?
Reputedly the player loan market, is not sufficiently deep at this point in the season, to be able to shift the players under contract.
If Greece was able to get EU membership, somehow there must be a derivative solution.
I can't help think since the cap is (in the main) driven by the aggregate wage bill, there is a simple arithmetic way to
satisfy the cap and employment contract law.