Wfc Finances

If we're still taking on unpaid interns, they could be literally paying to work at the club.

 

I reckon this probably gets to the heart of it. The extra £150 for a player is like you or I finding there's an extra 10p deduction on our wage slip at the end of the month. Probably takes a certain type of details person to even spot it, let alone care about it.

 

We are, there were a couple of job adverts posted a few weeks ago iirc

 

Rashford 1
Pozzo 0

 

also for 2 months running now the staff have been paid 5 days late

 

Interesting... How do you know that?

 

Really? Where have you seen this. I'm amazed if correct this has not come up before

 

I'm sure I've read it on here in the past few weeks, though can't remember who posted it. Could be same poster.

 

You could also add that when we get beat the team have to come in on their day off which also means the staff have to come in on their day off.

 

It wouldn't have been a drop in the ocean for Deeney's food bill!

 

Finances could now be worse after the EFL investigation of the Kamara transfer

 

Hahaha, ffs

 

I see we are also auctioning off worn shirts from previous matches, with "10%" going to charitable causes. We are so ******* broke.

 

If this means an end to the virus that is these ‘give me a shirt’ signs, which are held up by as many adults as kids - then I’m all for it.

 

The club literally posted an image of 2 kids asking Louza and Kone for their shirts with homemade signs, on their Instagram last week. An awful phenomenon thats here to stay.

 

Even better when they've bought a flag of said player's country and Google Translated "please can I have your shirt' for their cardboard sign. That's proper commitment to the cause.

 

Probably on Ebay now for £75.

 

How on earth are we going to avoid administration over the next 12/24 months ?

We had, what, £50m+ of third party debt? We had 2 players who were jointly worth approximately that sum but are now worth maybe half of that so won’t cover the debt when sold. The debt is secured against future football income which will now plummet, almost certainly reducing the value of debt available to us. Those secured football revenues can’t be used to cover day to day cashflow needs if they are secured against the loan, ie they are effectively already spent.
There are 3 ways to repay a huge debt.
1/ Sale of assets. -nope
2/ trading cashflow profits - yeah right
3/ new investment - why would anyone buy shares newly issued shares in the club now ? What bargain valuation would the Pozzos have to offer ?

The issue today is not what would the team look like next season, it’s how does the club survive financially. I said before it felt like we were betting the ranch by refusing to sell star players to ensure we achieved promotion. Well I’m worried about the ranch right now.

 

I think the key is not spending big but spending smart. We’ve not done that often enough over the past 4 years. Gino has the thought, buy all the bargains you can and some will pay off. The end result is we gain a bloated squad which is costing more than it’s worth, with very few gems sold on to finance the strategy.

The only thing that’s kept Watford afloat over the past few years is our trading in South America. The scouts and recommendations in that region have been world class. Signings from the other regions have been brain dead purchases.

If we get it right in Europe and Africa, as we’ve done in SA, then we’d be a EPL club before too long.

Trouble is now we’re going to have to take a few steps back. With the debt we have it’s going to take a long time to get back to an even keel.

Gino is a very smart man, but his ego, arrogance and narcissism overrides his brain. Our only hope is that Manga/Costa really work their miracles in the summer.

 

Off to a great start with Ferreira & Araujo!

Manga will be gone by October.

 

What's this based on?

 

Irrespective of how effectively Manga recruits new bargains, we still have a huge loan to repay or reschedule.

 

my opinion.

 

Well, the debt is substantial, but it is mostly owner debt. The Macquarie loans are already guaranteed against future earnings. So the debt is not a huge worry for me, but how we fund things going forward is a problem. Can only come from another owner loan, outside investment and/or player sales.

 

I don’t think all Macqurie loans are against future earnings. We don’t have enough future earnings to cover it. Some is against stadium and player assets also.

 

Yes I’m ignoring the owner debt.
The M debt is secured against future income. So M are ok. But how do we run a club and cover days to day costs with our income already reserved against the debt. The loans companies aren’t idiots. They will get their money. The issue will be how operate while that money is diverted to replay 3rd party loans. New owner loans or capital would be great but we’ve recently we have the, was it, 5th poorest owners in the league ??

 

I’m not quite sure you understand what owner debt is. Gino hasn’t put a penny of his own money into the club, it’s all borrowed elsewhere. We now very likely don’t have the saleable assets to clear that debt going forward.

Also what’s your basis for saying our SA scouting network has been ‘world class’, Richarlison?

 

We have had a plethora of good signings from South America. I’m surprised you can only think of Richarlison.

 

Well you called it ‘world class’ to me that suggests it’s producing world class players for us, which I don’t think it is. It’s producing relatively a average players in the context of football as whole, so how can it be world class?

 

Sorry four copyous typos.

 

Ok, I’ll change it to first class. That’s actually what I was thinking when it typed it.

Cucho, Lukebakio, Estupinan, Suarez, Richarlison, Pedro, Asprilla. I’m sure there’s probably more. They’ve all been financial hits (or will be). The ratio is extremely high between hits and misses. The total opposite when we sign from Europe or Africa.

 

Unfortunately we have to give Mogi credit for that one.

 

Oops. How did that name slip in there.