Vital Football

Latest Watford FC News

Cup runs key to Watford squad wages

Cup runs key to Watford squad wages

Watford chairman Graham Simpson has confirmed that successful cup runs, ending in 2 semi final defeats, under the guidance of ex gaffer Ray Lewington, had been key in paying back deferred players wages, as the club fought administration.

Carling Cup victories over Reading, Sheff Utd, Southampton and Portsmouth, ending in a semi final defeat to Liverpool in 2004, had generated sufficient revenue to cover a 12% salary reduction taken by professional players and higher paid members of club staff, entered into 2 years earlier.

Simpson said in a letter to shareholders "the proceeds of the 2004/2005 cup run were used to payback in full all of the salary deferrals entered into in 2002".

In September 2002, the majority of the Glory Hornet`s playing staff, led by current club captain Gavin Mahon, had agreed to defer wage payments to assist the club in the battle to stay solvent following the Vialli era and the collapse of the then lucrative ITV Digital TV deal.

Simpson also noted that last year's journey to the FA Cup Semi against Man Utd had netted £1.2m into the club coffers as Watford recorded end year profits for the first time in 5 years.



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

Join the Vital Fantasy Football League - its Free!

Writer:Dr Watford
Date:Thursday November 15 2007
Time: 3:32PM

Best of Vital Network

Vital Boxing - Tyson Fury Will Be Back!

Comments

0
Great news! The fact that you have cash is credit to the current aministration, the manager and can only be a good thing!
Matt_Us
15/11/2007 23:04:00
Page 1/1
  1. 1

Login to post a comment

Recent Watford Articles

Vital Pre-Match - Premier League 30th Sept-2nd Oct

The 2016-17 season continues with the latest round of matches this weekend, which will see us among those having a match in this upcoming schedule with three-points the aim of course.

Cathcart Gets Northern Ireland Call (30/9/16)

Craig Cathcart has been called up by Northern Ireland manager Michael O'Neill for the coming international break.

Match Day Officials v Bournemouth (1/10/16)

The Premier League have now announced the Match Day officials that will take charge of the game against Bournemouth this Saturday.

Which Manager Has Spent The Most?

The modern game tells us that the club who spends the most money wins. So does the manager who spends the most money win the most also?

Archived Vital Watford Articles

Vital Watford articles from

Site Journalists

Harry Welch
Editor email
Profile
KDCallanan
no email
Profile
chrisgwfc
no email
Profile
Colin Cowan
no email
Profile
Alex Moore
no email
Profile

Current Poll (see more polls)

Watford v Bournemouth
Suggested By:
Watford win0%
Bournemouth win0%
Draw0%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
1 Man City 6 6 0 0 18 13
2 Spurs 6 4 2 0 14 7
3 Arsenal 6 4 1 1 13 8
4 Liverpool 6 4 1 1 13 7
5 Everton 6 4 1 1 13 6
6 Man Utd 6 4 0 2 12 5
7 Crystal Palace 6 3 1 2 10 3
8 Chelsea 6 3 1 2 10 1
9 Southampton 6 2 2 2 8 1
10 WBA 6 2 2 2 8 1
11 Watford 6 2 1 3 7 -1
12 Leicester City 6 2 1 3 7 -3
13 Burnley 6 2 1 3 7 -3
14 Hull City 6 2 1 3 7 -5
15 AFC Bournemouth 6 2 1 3 7 -5
16 Middlesbrough 6 1 2 3 5 -3
17 Swansea 6 1 1 4 4 -5
18 West Ham 6 1 0 5 3 -9
19 Stoke 6 0 2 4 2 -11
20 Sunderland 6 0 1 5 1 -7
Latest F1 News
Latest Vital Boxing News

Recent Watford Results (view all)

Watford Fixtures (view all)

Oct 1 2016 3:00PM : AFC Bournemouth (H)
Barclays Premier League
Oct 16 2016 1:30PM : Middlesbrough (a)
Barclays Premier League
Oct 22 2016 3:00PM : Swansea City (a)
Barclays Premier League
Oct 29 2016 3:00PM : Hull City (H)
Barclays Premier League
Nov 6 2016 2:15PM : Liverpool (a)
Barclays Premier League
Nov 19 2016 3:00PM : Leicester City (H)
Barclays Premier League