The fact is we have £10M to pay back over 5 years, and are still making an annual loss. So we need to set aside a minimum of £2M per year. The £4M in the summer has covered the signings so far and the first payment on the bonds. In addition, Baz has been saying the Red Lion development will go ahead, the SW Corner will go ahead, the pitch relaying (£1M+) will go ahead. Players valuations are not just how good they are but diminish over the term of their contract as well. So there are two judgements I believe, 1) Do we have £500K to spend? if so where is it coming from and should it be ring fenced towards our next bond repayment? and 2) Is he worth £500K with only 6 months left on his contract? I have no doubt with 2 or 3 years left on his contract he would be, but the asset value of his contract on Sunderland's accounts should have diminished significantly. In June he would be a free agent for example and no value to them.
I like Nosworthy, and hope we could get him, but I struggle to see how the economics of Watford FC could enable us to spend £500K