Wfc Finances

It’s been done where owners have sold the ground off to themselves and then put the club into admin, Mel Morris did it with Derby, so I’m sure it’s possible, somehow and in certain circumstances.

That said for the ground to be worth anything you need to be able to sell it off, and I’d imagine the local council wouldn’t look kindly on providing planning if such a d!ck move was attempted, so I’d imagine it’s a very high risk move for both the seller and any buyer.

 

If the loan provider demands their loan is repaid and the club can't do it then they can petition to wind the club in order to get their loans at the front of the queue. Insolvency is a murky world.

 

Selling the ground is not like selling a house-its a very specialised asset. I cant imagine many deals, if any. that have been done without the buyer being involved with the club that plays there.

As @a19tgg says if a third party was interested in it for say housing then the local council would have a big say in whether it was remotely possible.

If a buyer was interested in the football club as well then it surely will be easier tfor Gino to deal direct -leaving aside the points deduction Administration would incur-this would unsettle any buyer.

 

I also mentioned Mel Morris as an example as someone who had done it, however from memory I think that was initially done to get them through FFP, so the original intention was probably not a nefarious one like looking to hive off assets and then plunge the club into admin. This probably made it an easier transaction to get through.

 

Indeed, then comes down to deeds of priority etc over debt ranking order - MacQ would presumably be the senior debt, but unlikely that Pozzo could repay his debt before 3rd parties and rank ahead of others, knowing the club was about to go into administration for example....

 

I thought MacQ debt is gone? Surely was gone before Asprilla sale, Kone being last piece of jigsaw.

 

Dunno.....dunno what debts we have left now other than to our illustrious leader, and future payments due on transfer instalments.

 

presumably none…well that’s what our illustrious CEO told us

 

I don't think they've all been discharged yet going by CH records. Though there will be a short lag on those I suppose.

 

That was certainly the plan - whether that relied on new investment or sale of Asprilla at time it was said - who knows ?

 

The club has given specific security over certain assets to MacQ (TV money and transfer fees due) so they are going to get their money. The club has also given a charge to Hornets Investment Ltd-owned by Gino (ultimately via his Luxco entities) so as a secured creditor he ranks before all other parties-bar that outstanding transfer fees have to be paid as the EFL hold the " golden key" to be in the league provided all outstanding transfer fees are paid

 

We're debt free and Pozzo will never call in his debt remember. Nothing to worry about, we're in safe hands.

 

Yes so it's unlikely to be eg the catering company that pushes us into administration and as you say Gino will rank after those that are more likely to do so, ie MacQ (already secured), "football debts", and HMRC, but you never know.....

 

I’m not so sure. It’s brownfield land, within the Local Plan settlement area and it’s designated in both the strategic and core development zone of the town. Plus Watford are down on their 5 year housing supply

However, they’d look less favourably on loss of employment and contributions in the local economy if a replacement stadium was placed in Three Rivers, Hertsmere etc

 

If we had to start all over again, where would you like 'FC Watford 2024' to start again?

I'd quite like somewhere in Bushey Heath. Somewhere with a bit of a view, to enjoy the vista if we were playing crap. The Horse ad Chains for a pre-match pint, then a tow up the hill...

Having said that, what about a stadium atop Oxhey Park? Doesn't that have a bit of a view? Pre-match pints at the Rifle, like yesteryear...

Morph the '1881 Mahusive' into the '2024 Forever More'.

I am actually slightly enthused at the whole idea of this scenario...

 

Bushey would be good. Maybe underneath the M1. We could have a track round the pitch and let the travellers race their horse and cart that I often see them racing along the a41. Be a great distraction

 

like old days…can get that train in the park to the ground

 

The one that a grownup in his late 60s can barely straddle???

 

@Keighley
I feel that it should be 'grown-up'...
What say you?

 

Would the chicken and egg be interested in buying?

"Know you such a bird?"

 

I think either is acceptable today but the hyphenated version is more grammatically accurate.

 

Good to see this important matter has now been concluded. Close the thread.

 

Only if its brain was Scrambled!

 

Glenn Murray was on Ben Foster's podcast and talking about the summer he came in (and we had been relegated) - and how there was no relegation wage cuts etc. And Pozzo implemented a fine system for players - 10% of weekly wage.

Said all good clubs have fine systems and players don't mind...but he was talking between £50-£300 for whatever discretion. We had players on huge wages and 10% was massive. Thousands of pounds for leaving bibs and water bottles lying about.

Maybe not a big story and one for the past - but if true (and backed up by 2 players), it's another little insight to issues.

 

I'd say it becomes a problem almost immediately when a player who is on £10k a week is fined £1000 for leaving a water bottle out - or a player on £70k a week is fined £7 for wearing his boots in the gym.

Do't get me wrong, my heart doesn't bleed for people on such wealth - but that's not really the relevant point.

Foster even clearly says it was well known it was a way for the owner to recoup finances.

Now trying to cut costs is sensible - but players won't react well to you picking from their wages because you didn't forsee relegation when handing out contracts.

 

I get the feeling Pozzo views players as assets, not actual humans and that's exactly how he treats them. Having a chat with the guy must be painful, I bet he's got absolutely no social skills whatsoever.

 

I seem to mostly be posting Partridge quotes at the moment, but Pozzo fining players to recoup money reminds me of AP when he sacks all his staff for minor things, as he hasn’t got a second season.

 

Without game dropping, I met him a number of times during the Euros (and worked with him on a small project for work)....he's actually a nice bloke! He just gets very caught up in the madness.

Get him for a coffee/pint, and he's fine!

 

Gino sending Duxbury out with a bag full of bibs, hiding behind trees and goal posts to dot them round at the end of training...

It's no wonder the players have turned in so many half arsed performances over recent years. Moves to the club they know nothing about, constant churn of random managers, the prospect of being shipped off at the drop of a hat, withheld bonuses and exorbitant fines.

So many basic rules of management and getting the best out of people ignored because daddy's special boy and his little band of money raking "yes" men know best.