GFZ thinks that we are signing all the players and the Pozzos know what they are doing. http://www.skysports.com/video/inline/0,26691,12602_8502543,00.html
Watford, Udinese, Granada - Any money in and any money out all goes through the same bank account, the Pozzo's. So If player X wants to leave Udinese/Granada to join us and we want him and player X still has say 18 months left on his contract, then the Pozzo's could just get WFC to sign player X for say one Euro, one Pound etc. Unless of course there is a ' minimum release clause/fee ' built into the contract, but even then it's not a bad thing as like Ive already said, any income and any outcome is all handled by the Pozzo's so transfer fee's between the 3 clubs are kind of irrelevant. When it invloves signings between the 3 clubs it does not matter if one of the 3 clubs are making more money through selling players (Udinese) as they are all run by the same family.
Mitch--that is how it might appear to us outsiders and non-financial specialists, but it is more complicated than that, not least because the players and agents would have to agree to cancel the original contract and agree the terms of new contracts. They would not want worse terms, and may well see this as an opportunity to ask for better terms. Neither can three football clubs run off "the same bank account" because they happen to be co-owned.They are still distinct businesses and have to have their own accounts.
First of all, the players would actually have to want to come to Watford. Most are happy to go on a one year loan deal, but when you're talking about singing permanently, agreeing to an umber of years, many might not want to come to a 2nd-tier team, and would chance going to another club Fortunately most of the loanees do seem to love it here, and hearing the likes of Forestieri and Abdi saying they want to sign for us, can only help encourage others to do it as well. I have no idea what wages some of these are on, but as many are a bit more obscure rather than 'big' names, I can't see that they'd increae our wage bill by huge amounts, once we have some of the others in our squad off the books. I'm sure if they wanted, they have ways round of 'investing' money in Watford... but I think our revenue will increase over the next few years anyway!
I think that to suggest that there is only one purse is far to simple. Suppose we sign Vydra for €1, do we then only show him as having that value in the annual accounts when everyone knows that he could be worth €5-6. HMRC would be very interested I think if they thought we were undervaluing our players to such an extent, and would be suggesting that this was a tax avoidance scheme, assuming that we ever made a profit. I do not know just how the club will do it's accounting, but with Baz reputed to be in trouble with the taxman I am sure they will be keeping a close watch on the club.
It all a bit murky really...we can only speculate and cross our fingers. I am sure it'll work out for the best
There is a simple solution - we sign Udinese/Granada players on a full transfer. Now it has been mentioned that wages become an issue in this case. Simples - the Pozzos simply sign a Watford player to go to either of our sister clubs for a fee that covers the wages in question. Natch. Yeates to Granada for 4 million anyone ?? To be honest - the Pozzos will have this one covered and it will not be an issue.
Does anyone know if Granada are subject to these rules in terms of Spanish football? If so, how do the Pozzo's tackle this?
Honestly guys there are 1001 ways to do these things - the key is that the Pozzos own the three clubs and while that is legal they can always find clever ways to do what they want.
"The Pozzo family have been in football for 25 years... they are very clever people ..they will find a solution..."
"The Pozzo family have been in football for 25 years.... they will find a solution". But they have never owned a football club in England before, so never come into contact with the suits at the FL, nor the English media, nor the organised power of the owners of English football clubs. And no one has ever co-owned three clubs in Europe before, which could (theoretically) end up playing in the same competition. They have created a new situation, which is unprecedented, so previous experience is not a reliable guide. They are good business men and understand football better than most owners, but in this new situation anything could happen.They are not in control of events.
No changes can take place till next season and by then I doubt that we will have need for the quantity of loans we currently have so will worry about it when and if it appears to still be a problem
Leo, you've got close to highlighting the real risk. Multiple club ownership across europe, if the european federation clamp down in this we really could be in trouble.
Yes - but even that is hard to clamp down on as families have shown in multiple ownership in the past. Put three different corporations together and have the directors different in each but just happen to have one Pozzo on each Board and let a lwyer or accountant try to prevent that
I see Steve Bruce at Hull is exploiting a loophole in the loan system by getting his Egyptian Chairman to find Egyptian International loanees, think he has three so far. This is a disgrace and someone like Ian Holloway should make an issue of it.
