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 Watford face Financial problems.

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Redcanuck
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PostSubject: Watford face Financial problems.   Fri Jul 25, 2008 5:55 pm

Watford face the grim prospect of going into administration unless they raise £10m through player sales by September.

Aidy Boothroyd was told by chief executive Mark Ashton this week he needs to sell Dan Shittu, Tommy Smith, Jobi McAnuff and Jay DeMerit just to balance the books and prevent the Hornets from being docked ten points.

This surprises me, Watford have generate nearly £65m in revenue over the last three seasons – with another £10m due as part of this season’s final parachute payments. £30m for reaching the Premiership, receiving £10m in parachute payments, generating £20m in player sales and £4.25m for the sale of the corners of the ground.

Have to wonder where the revenue has gone, can't remember any players coming in. If the clubs that have reached the Premier and received a couple of parachute payments are having financial trouble, what about the other clubs in the football league.

The number of clubs going into administration is getting out of hand, something is going to have to be done about the differences in revenue between Premier clubs and the rest or many teams outside the Premier will not survive. I know that the Premier is giving more money to the Football League than they used to but it is not nearly enough.

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