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The call was made at a meeting of club members on Thursday night which heard that the Seaview outfit, in common with many Irish League clubs, is in debt.
Crusaders chairman Stephen Bell said the club had agreed a range of immediate cost-cutting measures.

"Our Board are determined to live within our means, and remove the burden of debt repayments within three years," said the Crusaders chairman.

Long-time Crues supporter, Professor David Carson presented an analysis of the club's financial current position.
His report included measures aimed at generating additional income.

"It is no secret that many IPL clubs suffer from 'living the dream' syndrome - gambling for success today, but mortgaging the future," said the Crusaders chairman.

"Crusaders were no different and it has left us with a legacy of debt.

"As a club we have taken the initiative to propose a wage cap for the Premier League.

"We think that will be agreed and will benefit the League as a whole.

"However, we must put our own house in order, and cannot wait for decisions from elsewhere.

"Even though Crusaders does not have a profligate wage bill, we have agreed firm measures to return the club to financial probity, particularly in regard to long standing creditors.

"Our 4G pitch is already saving and earning money, and tonight we agreed to submit a planning application for 14 apartments on the ground of our current social club, aimed at clearing the club's debt within three years."

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Probally a good idea, as many teams are struggeling financially, and also looking south of the border the number of teams that have gone into administration is frightening, Cork and Derry City being the latest victims
 

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An Irish Premiership salary cap is to be introduced

Irish League clubs have voted to introduce a salary cap for clubs competing in the Carling Premiership.
The cap will be set at 60% of "total allowable income" generated by clubs for the 2011/12 season.

From next season, clubs will have to identify "allowable income" from which clubs will be permitted to use a percentage to pay players salaries.
The IFA said the decision had been taken in "response to the current economic climate".

Hugh Wade, the new Chairman of the IFA Premiership Management Committee, said that the clubs had made "a vital and responsible decision".
"I would like to thank all the clubs for their support and also the IFA staff and panel of experts who have contributed," said Mr Wade.
"I trust that this act of self regulation by the clubs will ensure that the Carling Premiership continues to grow in stature in the coming years."

IFA chief executive Patrick Nelson described the decision as a "brave and courageous step".
"I believe it is vital for the long term survival of our local game," said the IFA chief.
"This salary cap allows each club to budget appropriately and spend within their means, therefore allowing them a more secure financial footing.

"The Irish FA is intent on ensuring that good financial practices are present within all clubs, and this decision made by the committee means that yesterday could turn out to have been a very important day for the future of many of our clubs."

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Probally a good move to encourage teams to spend with their means. Hopefully it doesnt hold the development of the irish league back, but it will help to ensure that teams are able to survive.
 
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