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

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

Gomes - City One Of The Best I've Faced

Goalkeeper Heurelho Gomes has said that Manchester City are simply one of the best sides he's ever faced following Watford's loss at the weekend.

Silva - Manchester City Is A Learning Curve

Watford head coach Marco Silva has said the heavy defeat to Manchester City has to serve as a learning curve for the Watford side.

Vital View - Premier League - 15th-16th September 2017

The Premier League season continued with the latest round of games played over the weekend, 15th-16th September.

Stats: Watford v Manchester City

All the stats from Watford (0) vs (6) Manchester City, Vicarage Road, 16/9/17 Att: 20,305

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)

Man City MotM
Suggested By: Site Staff
Gomes100%
Janmaat0%
Mariappa0%
Kabasele0%
Holebas0%
Doucoure0%
Chalobah0%
Carrillo0%
Cleverley0%
Richarlison0%
Gray0%
Sub - Pereyra0%
Sub - Capoue0%
Sub - Deeney0%
ScoopDragon Premier League Network Sites
The Vital Football Members League
Latest F1 News
Latest Vital Boxing News
Vital Football Comment

Recent Watford Results (view all)

Vital Members League Table

RankNamePoints
1.Daniel Smith12
2.mikedrury1
Write for Vital Football