UK time is: 05:04:53
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

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

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 Ł1.2m into the club coffers as Watford recorded end year profits for the first time in 5 years.




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.

Join the Vital Fantasy Football League - its Free!

The Journalist

Writer: Dr Watford Mail feedback, articles or suggestions

Date:Thursday November 15 2007

Time: 3:32PM

Your Comments

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
 

Have Your Say

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

Recent Watford Articles

Watford Take A Point At The Riverside (Saturday October 25 2014)

Stats: Middlesbrough v Watford (Saturday October 25 2014)

Watford 2-2 Forest: A Neutral's View (Wednesday October 22 2014)

Hornets Held By Forest (Wednesday October 22 2014)

PREVIEW: Watford v Forest (Tuesday October 21 2014)

Opposing View: Nottingham Forest (Monday October 20 2014)

Watford Cruise To Win At Hillsborough (Saturday October 18 2014)

Stats: Sheffield Wednesday v Watford (Saturday October 18 2014)

McKinlay and Jokanović: Questions (Tuesday October 7 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)

League Results (view all)

Latest Results
Watford 1 - 1 Brighton
Watford 3 - 0 Bolton
Sheff Wed 0 - 3 Watford
Norwich 3 - 0 Watford
Middlesbrough 1 - 1 Watford
Charlton 1 - 0 Watford

League Table (view table)

Team P W D L GD Pts
1. Derby County 14 7 5 2 +12 26
2. Watford 14 7 5 2 +11 26
3. Wolves 14 7 5 2 +6 26
4. Bournemouth 14 7 3 4 +14 24
5. Middlesbrough 14 7 3 4 +7 24
6. Norwich 14 6 5 3 +10 23
7. Forest 14 5 7 2 +7 22

Breaking League News

Karanka happy with display
» Middlesbrough : 25/10/2014 23:11:00
» Rotherham : 25/10/2014 22:28:00
Honours even between challengers
» Middlesbrough : 25/10/2014 22:06:00
Eight Bar Blues..as Cherries hit record
» Bournemouth : 25/10/2014 21:54:00
McClean Double Downs Derby
» Derby County : 25/10/2014 21:46:00

Current Site Poll (view all polls)

Who was man of the match against Sheff Wed on Saturday?
Suggested By:  Editor
Sebastien Bassong 9%
Daniel Pudil 13%
Daniel Tozser 6%
Almen Abdi 6%
Matej Vydra 26%
Fernando Forestieri 40%