A week in the life of Watford - Jason Burt

Having read the article I see no mention of shooting practise taking place this week. Surely that can't be right. Oh, hang on...

 

It’s the ultimate modern footballer name.

In the 1890s it would have been Denis Smith.

 

We could have a whole team of compound Watford players. Maybe Heurelho Digweed in goal and Heidar Jenkins up front paired with Luther Forestieri would be a handful. Endless possibilities.

 

Almen Welbourne.

 

Fernando Lugg.

 

Skilly Vydra.

 

HB Certs

 

I Blame the Kremlin.

 

Brazilian house DJ isn’t he ?

 

Sort of person you d love to get stuck at the bar with ?

 

Jose Robinson at left back would never finish a game.

 

So violent he d be in Pentonville sharing a cell with Marlon Deeney.

 

That’s right.

Perry Gomes was the crooner.

 

Troy King.

Sounds like Jason King’s cousin.

 

Quique Keen.

Graham Gracia.

 

People didn't 'moan' at you for copying a free article and putting the attribution at the end. I gave you a valid set of reasons why it can harm content producers.

Also, this article is not locked behind a paywall. You can register for free to get access to one premium article: that is what I did.

As a group this forum has no right to moan about the media not writing enough articles about Watford, and focusing on the 'big' teams, when we wont even register for free to read an article. Copying and pasting content is only making the media turn to clickbait, in turn focusing on teams that get the attention --- spoiler: Watford don't get the attention.

 

I guess it's a bit early and you're not a morning person?

A simple "thanks for posting the article" would suffice.

 

Tie a yellow red and black ribbon round he old oak tree

 

Called it. 6 more defeats coming right up, leading to Gracia losing his job, and with Watford perched perilously close to the relegation zone, Warnock becomes our only hope following his own sacking by Cardiff.

 

Does Pardew go to Cardiff then, thought he was being groomed for us?

 

Just to put a bit of perspective on the comments relating to Pozzo clearing the £10m debts. Of course they have done a fantastic job with the team and the ground/training ground and this is an observation not a criticism.

A search at companies house today shows the club has borrowed £25m from Santander to generate cash now from the contract to sell Richarlison . £25m of the fee (not disclosed) was due by Promissory notes (IOU's) -£10m on 30/7/19 and £15m on 30/7/20.

A look at Hornets Investments Ltd-(HIL) the holding company of Watford Football Club -published its accounts to 30/6/17 (the same as the club earlier this year-and of course its nearly 16 months out of date and Richarlison was sold after this years trading period to 30/6/18 ended) shows

a/ loans of £57m including a loan of £40m which was increased to £55m after that year end. 45% of that £55m has to be repaid by 30/6/19 and that is £25m funnily enough

b/ another new loan of £20m.

c/ Cash of £10m held

So and we will not be able to get any more info as the companies above HIL are based in Luxembourg and controlled by Gino it would indicate that;

1/there may not be any of the cash from the Richarlison sale to spend on players
2/ we had c £67m of debt shortly after 30/6/17

Just information[/QUOTE]

 

[/QUOTE]

Good work, so explain to me again why we didn't sign two proven quality strikers and two quality centre backs, I don't get it!

 

Good work, so explain to me again why we didn't sign two proven quality strikers and two quality centre backs, I don't get it![/QUOTE]

Also the accounts for HIL show

1/ up to £20m payable for transfers made before 30/6/17

2/ £800k potentially payable pending the outcome of an investigation into the termination of an ex employee (Riva ?)

3/ £50m payable in respect of transfers post 30/6/17-(Gray, Cleverly, Chalobah, Richarlison, Hughes, Lukbakio, Dalhberg and Zeeglar ?

4/ £3.5m paid to Udinese for transfer fees

5/ £9.6m paid to Udinese for sell on fees-(Abdi, Nyom.Anya, Vydra and Ighalo?

Not much in the way of player sales in the year to 30/6/18 bar Berghius and Sven Kums (remember him ) but £50m due out but maybe -like the Everton purchase of Richarlison -not all in 12 months

Maybe we did need to sell Richarlison ?

 

Surely the Joka to return in life affirming happy ending.

 

Also the accounts for HIL show

1/ up to £20m payable for transfers made before 30/6/17

2/ £800k potentially payable pending the outcome of an investigation into the termination of an ex employee (Riva ?)

3/ £50m payable in respect of transfers post 30/6/17-(Gray, Cleverly, Chalobah, Richarlison, Hughes, Lukbakio, Dalhberg and Zeeglar ?

4/ £3.5m paid to Udinese for transfer fees

5/ £9.6m paid to Udinese for sell on fees-(Abdi, Nyom.Anya, Vydra and Ighalo?

Not much in the way of player sales in the year to 30/6/18 bar Berghius and Sven Kums (remember him ) but £50m due out but maybe -like the Everton purchase of Richarlison -not all in 12 months

Maybe we did need to sell Richarlison ?[/QUOTE]

How much is the tv money & when does that come in?

 

Also the accounts for HIL show

1/ up to £20m payable for transfers made before 30/6/17

2/ £800k potentially payable pending the outcome of an investigation into the termination of an ex employee (Riva ?)

3/ £50m payable in respect of transfers post 30/6/17-(Gray, Cleverly, Chalobah, Richarlison, Hughes, Lukbakio, Dalhberg and Zeeglar ?

4/ £3.5m paid to Udinese for transfer fees

5/ £9.6m paid to Udinese for sell on fees-(Abdi, Nyom.Anya, Vydra and Ighalo?

Not much in the way of player sales in the year to 30/6/18 bar Berghius and Sven Kums (remember him ) but £50m due out but maybe -like the Everton purchase of Richarlison -not all in 12 months

Maybe we did need to sell Richarlison ?[/QUOTE]

Revenue stream from ‘I was there’ Doyley t shirts?

 

Why is point 5/ being included? Surely those sell on fees were paid years ago.

I find it quite hard to believe we're not flush with money. We've never spent on large transfer fees, we have the 5th lowest wage structure, we earned something like £117m last season. We sold Richarlison for £45m or so. What about all those loan fees we must receive per season?

It doesn't really add up to me, certainly not on the face of it.

 

Is anyone up to doing a Swiss Rambler type overview of the club’s financial status?

My instinct is that there’s not much spare cash. The whole English model is geared to the players absorbing any surplus, & some.

How much tax do we pay? Is the issue cash flow rather profit? What is the total wage bill (beyond the squad members)? Dividends/interest payments? Are net transfer fees the swing factor for profitability?

 

These were player sales in the year from 1/7/16 to 30/6/17 and would only be payable when sold so in that financial year ended 30th June 17

We made a loss of £15m on revenue of £124m which included all the TV money but after a £22m profit on player sales per point 5 we made a £3m profit

You have to write down the cost of player purchases over the life of their contract and that was £29m, wages were £76m and expenses were £30m and regulatory fees £4m so thats £139m.

All this excludes the £10m spent on the ground and London Colney as that is not a P+L item but probaby accounts for some of the increased loans taken out

No player sales = no profit

 

How much is the tv money & when does that come in?[/QUOTE]

TV money £110m, Matchday £7.5m income and commercial/other was £6.5m.

Total £124m all in that year.

 

TV money £110m, Matchday £7.5m income and commercial/other was £6.5m.

Total £124m all in that year.[/QUOTE]

And does it all come in during that year?

 

The player depreciation is a big factor.

Also, would go into Expenses? All that flying Guedioura around?

In short, does Gino only really get his hands on the moolah when he (part) sells the club?

 

See attached Swiss ramble on us from March

no tax or dividends with some interest on the debt but like all financial accounts for private companies its out of date with transfer activity around what we owe and receive occurring after the year end so you get to see the Richarlison impact (within an overall figure) some time in March 2020 when the accounts to 30/6/19 are published.


https://twitter.com/swissramble/status/978548049936076800?lang=en

 

Shows what a poor job Colney are doing that Player Impairment shows up as a separate item in the accounts.