At least if GT does do that Norway, he won't be demanding £5m. These results are very much a vindication of what Julian Winter did. A competent businessman who allows the football side of things to work in three year cycles would recognise that if we trade players properly, we are the outstanding balance of the bond payments away from being a sustainable model. Let's hope Watford can find a competent businessman in the near future.
We have one in DF! His input these days are going to be crucial and is Baz does have any sense he will listen to him!
As far as I can make out not bad ! The DG money may be in the 2011 2012 report! although would be used on club running costs for another month or 3!
These accounts provide a useful benchmark, because they are for a year when there was not much player trading (DG sale and AY windfall not included) and the operating costs reflect the diminishing wage bill engineered by Winter. Though the wages will fall further in future, the accounts show what we might expect in a "normal" Championship season--an operating loss of about £3/4M on a turnover of about £ 10/11M . This would have to be made up by player trading, or by going further into debt ( provided someone would lend us money). This is the scale of the funding challenge Bassini will have every year. But over the next few years he also has to find about £9M to pay back the bonds, plus any money for capital investment if the pitch is to be relaid, SE corner finished...oh, and East Stand.. This is why speculation about the source and scale of his resources is still relevant , and why we need to keep asking questions about his business plans and abilities. How does he propose to do it? Do we believe that he is capable of doing it? I must say the accounts were quite a bit fuller than I expected from what is now a private company.Director's salaries are listed but only refer to Winter for this period. If we ever do make a proper profit, we will not need to pay tax on it for years, there is such a huge backlog of losses to offset against tax.
You may remember that the WO published an open letter to Bas, to which he replied in general terms begging for more time to understand the club. A couple of paragrahs that stand out from his response do rather hit one in the eye when you re-read it. "We recognise that we’re custodians of the club, here for a snap-shot of time in the wider history of the club. It is to the supporters, who will be here forever, to which we feel accountable with our decision-making. Good communication along the way is key to continuing to generate the togetherness and unity that we know already exists at Vicarage Road."
Good summing up. I agree about the amount of disclosure - a welcome surprise. I think it puts any asset stripping claims to bed - and when the work starts on the SW corner, it also I would hope allays fears about ground redevelopment - surely they wouldn't embark on that if it was going to be bulldozed. Which leaves the questions still: Who??? Why???
http://www.watfordobserver.co.uk/sport/9365148.Watford_decide_on_committee_to_run_the_club/ interesting.....and encouraging (I think).
From Twitter: #WatfordFC are attempting to sign QPR midfielder Akos Buzsaky on loan. Finances being the main stumbling block at the mo. Just what we need then..........
Thats an interesting call the lad does have plenty of talent , its the temperament I question , that and lets face it the Vic isnt one of his favourite places ! didnt an ex manager wallop him at the Vic and he was found sulking ages after!
Mcginn must not be far away on the radar either by now! We do have a lack of quality creative Midfielders!
Wasn't December his target for return? he's either 2 weeks away from returning alternatively 7 weeks away, depending whether your cup is half full or half empty
I thought it was always going to be towards the end of January, with the hope it may be a little earlier...
On the Accounts - I'm dissapointed - I though the wage bill would be much more reduced than that and overall I expected us to be nearer 2 to 3 m loss. Also, once the new ownership kicks in accounting wise, we may never see any more figures and it makes one think if there is a reason why certain figures are in and others out this year. Any Accountants in the house to give some knowledgable insight as to whether I'm talking bo##lo**? On McGinn - target was December but don't expect him to play at all this season. He may get some game time but it will take him a long time from when he starts to train with the squad to being first team match fit. On Akos Buzsaky - to be fair to him he knows the Vic pitch well having found an awful lot of space on the wing that special night (IWTWLDS) ) Pompey on Saturday - sold out away support so should be a good atmosphere - 3-2 home win!
