Wfc Finances

Pays Duxbury for three months

 

Probably on the lawyers to ensure the clawback of shares from longstanding fans can be sold back to them for many times that.

They’ll also need to oversee the marketing and sales of Watford magic beans around Christmas.

 

Where's Bayat?

 

He's raking each and every pot.

 

With the agreement of the des pot ?

 

Off buying lawnmower engines with Micky Pearce

 

Anyone know what this is all about?

I've not the time to research anything right now so it would be nice if one or more of you could post something for a financial simpleton like myself, explaining in base language who INX Japan are and what they represent. Thanks in advance...

text translated:
#INX and Republic @joinrepublic are partnering to bring about another revolution through the tokenization of real-world assets #RWA. Our exciting new agreement with @WatfordFC marks an important step in our mission to tokenize and list all assets. #世界をトークン化する #theINXway

 

I presume it's just another party involved in the recent investment thing the club advertised? Republic are the brokers for that in the US. Sounds like INX are one of the hangers on and popped over for a photo op.

 

They look like the kind of guys happy with an investment that gives them nothing.

 

Based on this, they're one of the four horsemen of the Apocalypse. What they represent is the end of days.

 

They're there to collect their investor exclusive scarves and to tour the plant room.

 

Followed by dinner with Tom

 

Interestingly the original link now displays a 404

https://www.watfordfc.com/news/club/news-watford-fc-to-offer-ownership-to-fans

 

I've noticed since they updated the site most old links don't work.

News: Watford FC To Offer Ownership To Fans

 

Please tell me this is the same podder who gave us the “Scott and Gino do business properly” tweet.

 

One and the same, I do believe.

 

Which is I'm also skeptical of the £500k loss a week claim. I don't doubt we're losing money each week but nowhere has I've seen, read or heard has it been estimated to be that. I'd have believed £100-£150k a week potentially nowadays.

When we first went down I could believe it and that's where the parachute payments help relieve exactly that situation but we've restructured the entire squad; only Bachmann, Pollock, Sierralta, Ngakia, Louza, Dele-Bashiru and Sema remain from that time (Morris, Grieves, Forde and Baah were on the books but were youth / academy contracts so are not exactly breaking the bank here) and of the senior squad I could only imagine Bachmann, Louza and Sema earning First XI parity whilst Ngakia, Sierralta and Dele-Bashiru would only be squad wage which won't be what costs the club incredible amounts even when relegated.

 

I strongly doubt both Ngakia or Dele-Bashiru will be above £10k a week on their new deals. I don't know that but given the average wage of the Championship it would be surprising given neither are considered locked in XI quality.

 

A respected accountant who specialises in football accounts said on DNSYE that most championship clubs lose in the region of 500k per week so I believe that

I don’t believe anything that the podder says though. He’s flipped and flopped from sneering at all the football fans that don’t hero worship our owners to now openly criticising them.., when in my view it’s all too late

 

Yes that number is based off the squad two seasons ago. Several high earners jettisoned since - Sarr, JP and Cleverly himself as a player contract. Also Chowdury and Hause probably carried a heavy weekly premium?

 

And yet it’s not direct criticism from DNSYE. It’s just justifying the sale of Hoedt because that’s the way life is. And still delivered with odious dripping self regard by that repellent Jon character, despite the criticism of their paymaster having been proved right over an extensive time period.

This morning I see he is ruminating why FTRE are only the ones with a rational head.

It is beyond me why they have any audience at all.

Ars****es.

 

Just like the pre Pozzo days we will have a weak squad and a need to sell our most valuable player each season to cover operating losses while clinging to championship survival. Clubs with rich owners can just absorb those losses. Clubs like ours can’t. Hopefully the Pozzos won’t pocket the proceeds of player sales and TV money like Big Bad Bas did…..but you never know ….

 

Like most podcasters, he’s just after making a name for himself

 

I believe this 500k per week loss that is banded about is based on that guy Kieran Maguire who did some , on the most recent filed accounts , which show a loss of £26m for the year , before player trading and interest . The problem with that figure is

1) it is somewhat outdated as is based on the wage bill from the 2022/23 season , which we know has significantly reduced . Although take into in account so have the revenue streams.

2) I remember looking at this at the time and amortisation of player registrations was something like £20m . Amortisation is not a cash flow. To a large extent the cash impact of this will already have been sustained and the club would never actualy need cash of 500k a day to cover its real costs.

In addition to that as the amount the club spends on players reduces and the big hitters are sold , annual amortisation will significantly reduce.

So the club is certainly likely to be making a loss before player trading , plus there will be debt ( which I don’t believe has been fully paid off as per Duxbury ) , but the 500k a day that is being quoted is very misleading. I know Maguire is held up as some sort of guru but he can be quite misleading in his claims .