UK time is: 09:00:07
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Watford halve operating loss

Watford Leisure Limited this morning released their account for the year ending June 30 2011 with the headline news being the reduction in operating loss.

The figure, which stood at 8,353,000 last financial year has now been cut down to 4,050,000.

This improvement was thanks to a number of factors, including a drop in salary - from 10,876,000 a year to 9,319,000 a year.

Also responsible for the drop was the money received by way of compensation for the services of Malky Mackay and the numerous other staff who followed him to Cardiff City.

On top of Mackay, money was received not only from the sale of Will Buckley, but various sell-on fees and clauses in the contracts of other former players which became active.

Watford Leisure Limited's AGM will be held on December 12 2011 and in Chairman Graham Taylor's letter to supporters is the subject of the bond issue. However the issue discussed is not repayment:

'...proposes to adopt new articles of association to ensure that the ordinary shares of 0.001p each (which for clarity are to

e redesignated as A ordinary shares of 0.001p each) will rank pari passu with the existing Ordinary shares of

1.00 each in the capital of Company, in all respects.'

A quick Google tells me that 'pari passu' means 'equal in every way'.

The full financial accounts for the year can be viewed BY CLICKING HERE

Graham Taylor's statement can be viewed BY CLICKING HERE

The club's notice of AGM can be viewed BY CLICKING HERE




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



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

The Journalist

Writer: Tom Bodell Mail feedback, articles or suggestions

Date:Tuesday November 15 2011

Time: 10:51AM

Your Comments

Sounds better.. I want us to be a club with little debt... We should all back GT.. We need him at our club... Don't let the owner push him out...
watford1881
They are now saying on wfc.com that GT & LB have put last weeks events aside... They seam to have kissed & made up...
watford1881
Lets hope so for the good of the club!
wfc123
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Watford Articles

Opposing View: AFC Bournemouth (Friday September 19 2014)

AFH: A Strange Few Weeks (Wednesday September 17 2014)

Vydra Penalty Seals Win For The Hornets (Tuesday September 16 2014)

Stats: Blackpool v Watford (Tuesday September 16 2014)

Watford Lose At Charlton On Garcia's Debut (Saturday September 13 2014)

Stats: Charlton Athletic v Watford (Saturday September 13 2014)

Preview: Charlton v Watford (Thursday September 11 2014)

AFH: Ciao Beppe, Hola Oscar (Tuesday September 9 2014)

Watford Appoint Garcia As Head Coach (Tuesday September 2 2014)

Watford Win After Dramatic Second Half (Saturday August 30 2014)

Archived Watford Articles

List All Vital Watford Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. ANDY710 1

League Results (view all)

Latest Results
Rotherham 0 - 2 Watford
Blackpool 0 - 1 Watford
Watford 4 - 2 Huddersfield
Watford 4 - 1 Leeds Utd
Watford 3 - 0 Bolton
Norwich 3 - 0 Watford

League Table (view table)

Team P W D L GD Pts
1. Forest 7 5 2 0 +10 17
2. Norwich 7 5 1 1 +10 16
3. Watford 7 5 0 2 +7 15
4. Wolves 7 4 2 1 +4 14
5. Charlton 7 3 4 0 +3 13
6. Reading 7 4 1 2 +1 13
7. Derby County 7 3 3 1 +5 12

Breaking League News

LUFC Doukara to tease the terriers?
Leeds Utd : 20/09/2014 08:00:00
Make or Break?
Brentford : 20/09/2014 08:00:00
LUFC Clarke's heart not in Leeds job
Leeds Utd : 20/09/2014 07:00:00
LUFC On This Day - September 20th
Leeds Utd : 20/09/2014 07:00:00
Brian Clough OBE - Legend!
Forest : 20/09/2014 01:00:00

Current Site Poll (view all polls)

Are you happy with the appointment of Oscar Garcia following Beppe Sannino's resignation?
Suggested By:  Editor
Yes 53%
No 14%
I don't know 33%