Quote: redwolf "MM so are you saying we can only spend 910k next season on players, or have i misinterpreted mate?'"
That's 50% of the cap.
Basically a club can spend 50% of it's annual turnover, up to a maxium of £1.82m for clubs who's turnover is high enough.
If our turnover was £2m for example, we would only be able to spend £1m. If our turnover was £20m however, we would be only be able to spend £1.82m and not £10m.
I have no idea what the clubs turnover actually was.