Just been studying the Watford accounts (how sad) and wonder how we can afford new signings in January: We have £450,000 cash in the bank. We need to repay Directors and bank loan of just under £1 million within 12 months. We have a bank overdraft facility of £2 million (subject to annual review). We have loans of £6.2 million much of which covers Aidys signings at the start of the season (which are spread over 1 - 5 years). Our turnover has been static at £8.5 million for the past 3 years, and we lost £5.5 million (after paying staff costs of £10 million - including promotion bonuses of around £3 million). The big question is will the Sky money arrive in time to spend in the transfer window (assuming we can attract suitable players) , or will the Directors inject more capital, borrow, or sell the club?
Yes I really hope we get some Sky cashflow quickly jobr, because I don`t think another share issue would go down well - even with the potentiql prize of £50 million next season.
