Debt Free In 12 Months (15 June 2024)

Discussion in 'The Hornets' Nest - Watford Chat' started by Jumbolina, Jun 15, 2023.

  1. Hornets81

    Hornets81 Academy Graduate

    Easy for you to say
  2. wfcSinatra

    wfcSinatra Predictor Choker 14/15

    Makes sense to me, either we’re investing a little bit in January because they’re happy with what they’re seeing and think there’s a chance of promotion or Gino wanted to get some Christmas presents.
  3. The undeniable truth

    The undeniable truth First Team Captain

    No problem in achieving debt free status by the summer. Obviously could be affected by a few factors outside our control, for example if the market crashes and we don't get the full £40m asking price for Louza.
  4. Jumbolina

    Jumbolina First Team

    Not sure who wrote that original text but the key is if it is a recourse or non-recourse agreement. i.e Who is stuffed if Marseille go bust before payment.
  5. We hate 48

    We hate 48 Reservist

    Capology have published their estimate of each clubs current wage bill.

    For the current season it quotes £15m for us-highest earner Lewis £38k pw followed by Louza-£32.5k pw-only another 3 earning over £1m pa-Livermore,Ince and Hoedt.

    Mind you it has Yasser A as on £2k pw ! so maybe take all this with a large pinch of salt

    By comparison it has Bristol City at £13m and QPR at £12m.

    Link may work

    Compared to a wage bill of £79m in our last PL season which is the last published accounts date (to June 22) there are clearly big reductions. The June 23 accounts (which will show last seasons) are not normally filed until end March being 9m after y/e as this is the requirement for companies.
  6. a19tgg

    a19tgg First Team

    They’re probably not a million miles out, as four salaries are verified and the rest seem relatively accurate when compared against them.
  7. Teide1

    Teide1 Squad Player

    Just goes to show that the more money you pay doesn't necessarily mean good value!
    PowerJugs likes this.
  8. PowerJugs

    PowerJugs Doyley Fanatic

    I doubt Aspirlla is on that little (Unless he never has his contract renewed following his original signing)
  9. wfc4ever

    wfc4ever Administrator Staff Member

    I don’t think he has (only been here 18 months )and as a young player ought for be on the lower end of wage bill .
  10. Thailandtimmy

    Thailandtimmy Now In British Columbia!

    Another loan to follow the Sarr loan last month, this month they have hocked the porta cabins at the Academy grounds.
    What next, the tea lady’s kettle?

    Attached Files:

  11. hornetboy1

    hornetboy1 First Team Captain

    We’re in a big financial crisis. It’s so obvious, yet those running the club say all is ok and the majority not only believe it but make excuses for it.

    The club prefer to take a loan up front instead of getting the money from Marseille in instalments. The club will get less doing it this way as Marseille will pay the interest to Macquarie bank which will not exceed the amount they owe us. So we’ll be getting a lump sum minus the interest, so we lose out in the long run. Why are we doing this? because we have no money. We have to keep borrowing up front because of cash flow issues. If alarm bells are not ringing loudly, they should be.

    Now a mortgage taken out on portacabins, inventive at least.

    This ownership has royally screwed us over big time, because of arrogance and stupidity.
    Last edited: Jan 5, 2024
  12. GoingDown

    GoingDown "The Stability"

    “Close Brothers”, are they the anti-Outhere Brothers?
  13. a19tgg

    a19tgg First Team

    Depends if they’re new or existing portacabins, if they’re new then it wouldn’t be unusual to finance them, most businesses would, if we already owned them and we’re mortgaging them, then yeah, that’s a huge, desperate alarm bell.
  14. I Blame Pozzo

    I Blame Pozzo First Team

    Molly Rush's tea urn, together with her original brew,is in the Ashmolean.
    In all other regards, don't panic, DON'T PANIC!
    SkylaRose likes this.
  15. fuzzy73

    fuzzy73 Squad Player

  16. wfc4ever

    wfc4ever Administrator Staff Member

    Guess we will never know ?

    Probably why we haven’t spent much and hyping up all the kids .
    Last edited: Jan 5, 2024
  17. I Blame Pozzo

    I Blame Pozzo First Team

    Probably not.
    Pozzo speaks less frequently than Hailey's Comet visits.
  18. IRB

    IRB THe artist formally know as ImRonBurgundy?

    Mortgaging your portacabins is simply astute financial husbandry

    Also, the debt isn't actually the clubs, it will be paid for by matchday beer sales, so actually the debt belongs to the fanbase, leaving the club debt free once again
  19. SkylaRose

    SkylaRose Administrator Staff Member

    I do wonder, if the way the club is being currently run behind the scenes if we would ever return to the dark days of the ITV Digital collapse in financial terms for the club. Players took a pay cut to literally save us from Administration. Obviously all we can do as a fanbase is guess and predict, as the three stooges upstairs will never tell the total truth. It's pretty clear even going by our last window that we were pretty much skint and the Summer will be no different. I do not mind us being careful with finances as the whittle the debt down and spend within our means, but you do wonder how screwed we really could be in a few seasons.
    PowerJugs likes this.
  20. a19tgg

    a19tgg First Team

    So effectively it’s now Heineken’s debt?
  21. hornetboy1

    hornetboy1 First Team Captain

  22. a19tgg

    a19tgg First Team

    Scary to think we still had a £50m wage bill last season and look what we achieved with that.

    Next season, excluding player sales, we’ll have a turnover of about £20m. Frightening stuff.
  23. wfc4ever

    wfc4ever Administrator Staff Member

    We won’t have a 30 million pound player to sell this summer ..
  24. hornetboy1

    hornetboy1 First Team Captain

    Now it’ll be a case of quantity to make that figure. Selling Andrews, Asprilla, Louza and Kone should cover the cost of that.
    Cassetti's Beard. likes this.
  25. Markoa$

    Markoa$ Squad Player

    Asprilla will get us close to that, especially if he has a good end of season and does well for Colombia in the summer. Right now I would say Gino won’t sell him for less than £20mil. I certainly think in the summer we can get £20-25mil for him. Louza is having a great time at Lorient already, so hopefully we can get around £5mil for him as well.

    Those two will be the main focus of shifting out in the summer. Kone will be next but will probably be off to Udinese, unless they get relegated.
  26. a19tgg

    a19tgg First Team

    That’s simply pie in the sky, Jude Bellingham went from the Championship for £25m. The ceiling for transfer fees for Championship clubs (not clubs just relegated to the championship from the PL selling players back to the PL) is about £30m for players who have absolutely destroyed the league goals and assist wise. Pedro had way more impressive stats than Asprilla. He’s not worth anywhere near £20m yet, and there is a lot of ifs buts and maybes to happen for your reasoning for him to get anywhere near that valuation.

    He is simply very rough potential at the moment and has achieved barely anything stats wise.
    PowerJugs, Burnsy, Chumlax and 7 others like this.
  27. Halfwayline

    Halfwayline Reservist

    If I wanted to cut costs then my first job would be to sack a CEO draining £1m+ from the clubs coffers every year
    PowerJugs, Knight GT, Mavu and 7 others like this.
  28. Since63

    Since63 Squad Player

    Maybe he knows where all the bodies are buried....
    Steve Leo Beleck likes this.
  29. leighton buzzard horn

    leighton buzzard horn Squad Player

    We aren't getting £25m for Asprilla in the summer.
    wfc4ever likes this.
  30. IRB

    IRB THe artist formally know as ImRonBurgundy?

    wfcwarehouse likes this.
  31. Cassetti's Beard.

    Cassetti's Beard. Academy Graduate

    If I was Gino I wouldn't get rid of the CEO, in this case he's the ultimate yes man that does Gino's bidding - there's a very good reason he's being paid that much.
  32. UEA_Hornet

    UEA_Hornet First Team Captain

    Surely though there's little point as owner in appointing a chairman/CEO of your company that isn't a 'yes man'?
    Cassetti's Beard. likes this.
  33. Jumbolina

    Jumbolina First Team

    Looks like small pay cut in 2023 in the accounts. Still takes home a mid premier league package despite every budget being cut to pieces underneath him.
  34. IRB

    IRB THe artist formally know as ImRonBurgundy?

    So the accounts openly state that promotion in the 2024/25 season is their target - signed by Dux and dated the 1st of Feb

    Also Dux paid himself £955k last year - well deserved i'm sure we all agree
  35. hornetboy1

    hornetboy1 First Team Captain

    Great. I’m getting excited now. So that’s next season we’re going up. Why couldn’t they be honest and tell us that? I wouldn’t have bothered going this season but I’m planning to go home and away next season now.

    Dux deserves his £955k for getting us promoted next year.
    Last edited: Feb 7, 2024

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