Wfc Finances

Discussion in 'The Hornets' Nest - Watford Chat' started by We hate 48, Sep 1, 2020.

  1. wfc4ever

    wfc4ever Administrator Staff Member

    He was on a YouTube blog with that Ipswich fan who does loads and made some sort of comment about not wanting to say much as he had already upset the club !

    Mind you hardly be alone in that group .

    It’s probably a long one .
     
  2. Loyalhornet

    Loyalhornet Reservist

    Is it fair to say maths isn’t your strong point Skyla?
     
    Burnsy and Sort of OK like this.
  3. We hate 48

    We hate 48 Reservist


    Totally agree with this. In fact as far as i can see we made an operating loss of £2m before player trading (or £6.5m if you include the non cash amortisation/depreciation). I dont know where the £26m comes from and its so dated to be next to useless to determine how we are doing currently.

    The accounts to June 24 will not be published till March next year so its all wild guess work. What i would say is that trying to work out our solvency (as per "Mikes" tweet) purely from the Profit and loss account is incomplete as it ignores what other cash outflow we have to make like paying the balance of transfer fees owing-that was £53m as at June 23.

    These will have come down but still without knowing (and its not in the public domain) what is owed now its all academic.

    The accountants will have had to sign off those June 23 accounts to say we can "make it through" for another 12 months from Feb 24 (when they were signed off)
     
  4. SkylaRose

    SkylaRose Administrator Staff Member

    I missed a zero off. Need more coffee, it's too early god damn it! :p
     
    Loyalhornet likes this.
  5. SkylaRose

    SkylaRose Administrator Staff Member

    Benjamin Bloom? Yeah he's a pretty chill bloke. I listen to his Championship news a lot. He's been to the Vic a fair few times as well and has a very non-bias view on the sport.
     
    Chumlax and wfc4ever like this.
  6. Chumlax

    Chumlax Squad Player

    upload_2024-7-20_12-5-38.png
    Obviously, the main funny thing about this is the idea that we as a club can negate being ruinously penniless by making 'smart signings'. We have no recruitment department. We've barely made a 'smart signing' in years. Gino's patented 'seat of your pants/nothing that isn't nailed down' management philosophy is not in the slightest bit conducive to operating in that manner'; something that requires extremely intelligent, measured, and meticulously planned moves over the medium to long term.
     
    CaveManHornet, reids, RMT79 and 4 others like this.
  7. Loyalhornet

    Loyalhornet Reservist

    Joao Pedro , Asprilla , Kone . All good signings . The main point is we are fishing in a different pond now as those were players we had a bit of cash to fork out on . We now don’t have any cash now , so are looking for very low cost signings.
     
  8. Chumlax

    Chumlax Squad Player

    Yes, obviously; that's the exact point I'm making/responding to.

    Joao Pedro's signing was announced 5 years ago, and to add two to that from all our signings in that period does not in any way constitute a good record.

    As you recognise, also, even those other two were signed a matter of several years ago, in a different financial situation, and with Kone in particular we spaffed a very pretty penny that we were fairly lucky to get out from with a profit, almost certainly as a result of his national team performances and visibility rather than anything he did in particular with us.

    And to further boot; what have these players actually really done for us, in the end, other than JP? They've existed here and been paid a lot of money, and offered very patchy and often not very consequential returns. Sure, as a means of a keeping the lights on, they've certainly served their purpose, and that's what we're all here for, after all.
     
    CaveManHornet, RMT79, a19tgg and 5 others like this.
  9. wfc4ever

    wfc4ever Administrator Staff Member

    I am sure there are some good free signings we could make or from the lower leagues but we never look in that market even when we had some money.

    Maybe Vata will be a decent young player but basically we've brought in a kid and 2 ex players one as back up keeper and one because they are mates with Bayat.
     
    RMT79, WillisWasTheWorst and Chumlax like this.
  10. Sort of OK

    Sort of OK Reservist


    Exactly we have all seen the accounts he is referring to months ago, a very fine commentary from your good self for those of us less gifted.

    We are quite a different animal now to the club those accounts referred to, both cost and revenue. Not sure what new news he thinks imparting, must have been a slow day for likes/follows whatever.

    Will be keeping an eye out for the Udinese debt though, still love to know what that is about!
     
    MarlonsCellMate, RMT79 and SkylaRose like this.
  11. leighton buzzard horn

    leighton buzzard horn Squad Player

    He is a self important plonker trying to make himself important to anyone who will listen. This time every year you get fans of all sorts of clubs going bananas because they haven't made signings and are getting upset at rumoured sales that haven't even happened.

    Rookery Mike and several others should go and have a beer and relax rather than trying to post hysterical tweets for likes.
     
    Last edited: Jul 20, 2024
  12. Optimistichornet

    Optimistichornet Penguin Assassin

    yer I am with you on this. very self-important.
     
    domthehornet likes this.
  13. luke_golden

    luke_golden Space Cadet

    Thank you, sir. The streets won’t forget that tweet.
     
    wfcwarehouse likes this.
  14. Since63

    Since63 Squad Player

    Have you not fully rebooted after yesterday?
     
  15. SkylaRose

    SkylaRose Administrator Staff Member

    No, currently running in "Safe Mode" right now.
     
    The undeniable truth and Since63 like this.
  16. Teide1

    Teide1 Squad Player

    We have a 15% sell-on agreement re Sarr, Palace are interested could go for £20 Million which would be a handy £3 mil for us!
     
  17. Hogg-DEENEY!!!

    Hogg-DEENEY!!! First Team

    15% of the total fee, or 15% of the profit? It's usually the latter
     
  18. Teide1

    Teide1 Squad Player

    Good point, I saw an article which said we had a 15% sell on, if its the later we will about £1 mill !
     
  19. UEA_Hornet

    UEA_Hornet First Team Captain

    Us or Macquarie Bank?
     
    Robert Peel likes this.
  20. SkylaRose

    SkylaRose Administrator Staff Member

    £2.5M for Macquarie and £500K for us minus any Bayat fee. About £10.50 then. Score!
     
  21. Robert Peel

    Robert Peel Squad Player

    One and the same
     
  22. K9 Hornet

    K9 Hornet Border Collie Dog

    Two zeroes in fact :)
     
    SkylaRose likes this.
  23. Halfwayline

    Halfwayline Reservist

    In the new season I predict we can look forward to..

    potential court cases
    Further excuses on the rationale why we are not “debt free” as promised
    Cutbacks in areas which have already been cutback
    Holes in our finances, holes in our defence
    Limited transfer incomings, limited goals

    bring it on!
     
    RMT79, Robert Peel, SkylaRose and 3 others like this.
  24. SkylaRose

    SkylaRose Administrator Staff Member

    FIFY
     
  25. BeersThen

    BeersThen Reservist

  26. WatfordDH

    WatfordDH Academy Graduate

    On a slightly serious note. Seeing some murmurs about possible administration talks on Twitter?! If we’re anything close to that then as a collective something has to be done.
     
  27. Jumbolina

    Jumbolina First Team

    surely we are debt free now? If we did go straight into administration presumably Duxbury etc would be in jail for conning people out of £4m on the nonsense share issue?
     
    wfc4ever and ProfessorAbdi like this.
  28. UEA_Hornet

    UEA_Hornet First Team Captain

    Any links?
     
  29. WatfordDH

    WatfordDH Academy Graduate

    UEA_Hornet likes this.
  30. BeersThen

    BeersThen Reservist

  31. SkylaRose

    SkylaRose Administrator Staff Member

    I cannot believe this sorry.

    If that was even remotely true then why would we go ahead with the new season, launch new shirts and get fans to "invest" in shares of the club? Surely if we were that far up the crapper we would of called the administrators in by now? I call clickbait, and I know Rich is pretty reliable but something like this would of been known in the close season. If a club goes into admin it means it cannot cover it's operating costs, which again doesn't appear to be the case here.

    The next step after Admin is Liquidation and Gino would of sold up well before that happened at a fire sale price to get Watford off his hands. As an aside, he would of called in his owner debt by now to make sure he gets it back before the Administrators took hold of the club.

    I probably totally wrong on most of the above, but I cannot believe anyone even as simple minded as Gino would even consider this on the brink of a new season.
     
    CaveManHornet likes this.
  32. wfc4ever

    wfc4ever Administrator Staff Member

    Duxbury has been very quiet since saying we would be debt free ..
     
  33. Halfwayline

    Halfwayline Reservist

    well a £1m+ unpaid bill to a catering company may be the reason for these rumours
     
  34. BeersThen

    BeersThen Reservist

    No doubt from the Deeney and Rose days.
     
  35. SkylaRose

    SkylaRose Administrator Staff Member

    FIFY
     

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