At the time he played, yes. Which means at this moment we are (or should be, which makes it even more confusing) Hadley's wage under the cap.

If you think about it, the system actually makes sense. It makes it easier for players who perhaps are frustrated by a lack of opportunities to move out on loan to a club that could afford to take their full wage on the cap, but couldn't afford to physically pay it.

Cup bonuses are a separate issue to the cap agreements in place for all clubs to pay bonus for cup win

The highlighted sections are the important bits. They can only be excluded if they're already accounted for. Maybe we didn't account for any win bonuses for obvious reasons?

Dont know the ins and outs but maybe we dont want to take him for the full year in the event that he picks up a nasty injury which would mean us paying the wages of another teams player who is not playing for us. Might sound selfish from us but I guess we have to look after our own interests.

Bonuses was account for beforehand

Makes sense!