Vital Football

Latest Watford FC News

Hornet's Cut £4m from wage bill

Hornet's Cut £4m from wage bill

Despite cutting a whopping £4m from their annual wage budget the Golden Boys parent company Watford Leisure PLC will still announce a pre-tax loss of £4m.

Revenue dropped by almost £12m, thanks in no small part to an £11m loss in broadcast revenue. Further losses were made in commercial, matchday and catering revenue.

Good news came in the transfer numbers, the sales of Tommy Smith, Mike Williamson and Tamas Priskin amongst other creating a profit of just of £4m in player sales.

Further cuts were made in the yearly wage bill which dropped dramatically from nearly £15m to just over £10m.

Non-football cost savings of £582,000 were made in stadium and administrative areas. Retail and catering costs have also fell by £553,000.

The main impact on these results came from the end of the Premier League parachute payments, the last payment of circa £11m being made last financial year.

An accompanying statement reads as follows: "The group has prepared detailed cash flow forecasts for the period to 30 June 2015. Those forecasts show that the group and company do not currently have facilities in place to fund all of the projected cash requirements over the next 12-month period.

"The directors acknowledge that as a football club which invests significantly in its youth and recruitment policies, the trading of players is critical to the business model of the company.

"The directors are confident that through a combination of player sales and directors and/or shareholder support the requirement to 30 June 2011 will be satisfied."


Click here for FULL results



Click here to join in the debate on the club forum.

Writer:Tom Bodell
Date:Wednesday November 3 2010
Time: 10:57PM

Login to post a comment

Best of Vital Network

Recent Watford Articles

Mazzarri Eyes New Keeper

Gomes the man with the gloves at Vicarage Road but Watford boss Mazzarri is apparently looking to bring in another player to challenge the former Tottenham keeper.

Watford And West Brom Handed FA Charge

Watford have been charged by the Football Association following the events on Saturday, which saw both sets of players clash in our defeat at West Brom.

Vital View - Premier League, 3rd-5th December 2016

Chelsea's win against Manchester City keeps them at the top ahead of Arsenal now. Swansea, Hull and Sunderland are the sides that remain in the bottom three.

FA Cup Third Round - Full Draw (5/12/16)

The draw for the third round of the FA Cup took place earlier this evening.

Archived Vital Watford Articles

Vital Watford articles from

Site Journalists

Write for Vital Watford
Write For Vital Watford
Apply Here

Current Poll (see more polls)

West Brom MotM
Suggested By:
Gomes2%
Holebas16%
Kabasele0%
Prodl0%
Zuniga0%
Amrabat66%
Guedioura0%
Capoue0%
Pereyra0%
Okaka0%
Deeney16%
Sub - Ighalo0%
Sub - Sinclair0%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
1 Chelsea 14 11 1 2 34 21
2 Arsenal 14 9 4 1 31 19
3 Liverpool 14 9 3 2 30 17
4 Man City 14 9 3 2 30 15
5 Spurs 14 7 6 1 27 14
6 Man Utd 14 5 6 3 21 3
7 WBA 14 5 5 4 20 3
8 Everton 14 5 5 4 20 1
9 Stoke 14 5 4 5 19 -3
10 AFC Bournemouth 14 5 3 6 18 -3
11 Watford 14 5 3 6 18 -6
12 Southampton 14 4 5 5 17 -2
13 Middlesbrough 14 3 6 5 15 -2
14 Crystal Palace 14 4 2 8 14 -2
15 Burnley 14 4 2 8 14 -11
16 Leicester City 14 3 4 7 13 -7
17 West Ham 14 3 3 8 12 -14
18 Sunderland 14 3 2 9 11 -10
19 Hull City 14 3 2 9 11 -18
20 Swansea 14 2 3 9 9 -15
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Watford Results (view all)

Watford Fixtures (view all)

Dec 10 2016 12:30PM : Everton (H)
Barclays Premier League
Dec 14 2016 8:00PM : Manchester City (a)
Barclays Premier League
Dec 17 2016 3:00PM : Sunderland (a)
Barclays Premier League
Dec 26 2016 12:30PM : Crystal Palace (H)
Barclays Premier League
Jan 1 2017 1:30PM : Tottenham Hotspur (H)
Barclays Premier League
Jan 3 2017 8:00PM : Stoke City (a)
Barclays Premier League

Vital Members League Table

RankNamePoints
1.Gary Pine1
The Vital Football Members League