Watford chief executive claims players won't be sold to fund operating loses

3:10pm Friday 20th July 2012 in Sport

Picture: Holly Cant Picture: Holly Cant

Watford players will no longer be sold to fund operating loses, according to the club’s chief executive Scott Duxbury.

The Hornets have made no secret of the fact they needed to sell players to balance the books in recent years and there are noticeable departures every summer.

This year has been no different, with vice captain Adrian Mariappa and goalkeeper Scott Loach leaving the club.

But speaking last week, before the duo departed, Duxbury claimed Watford do not have to sell and the money raised will be reinvested back into the playing squad.

He said: “We don’t have to sell players but our philosophy, which is the philosophy at Udinese and it is my personal philosophy, is that we should never be scared of selling players when they are at the top of their value, as long as that money is going back into the playing squad.

“Some of the most successful clubs in the world are selling clubs – Manchester United sold Jaap Stam. The question should be not who are you selling but who are you bringing in.

“Our philosophy will be not to just hold on to players because we don’t have to sell, which we don’t financially because we are fine, but if the player is at top value and we have identified through our scouting network a better and younger player, then of course we will sell.

“But the key is that the money won’t be to fund operating losses, it will be to reinvest into the playing squad and make it better. But there is no pressure to sell to fund trading losses.

“The whole ambition and philosophy of the club has now changed.”

Watford had a number of outstanding debts after former owner Laurence Bassini stopped paying bills once it became clear he would be leaving the club.

When asked how much debt the club had, Duxbury replied: “I can’t go into specifics but the reason the Pozzos are here is to make sure the club is stable. They are aware of the debt situation and we are working through it.

“As of the date of completion, the club is completely stable and has no financial problems because of the Pozzos.

“I can’t go into the specifics of the level of debt but we are being supported by the Pozzos through a new business plan and through the team achieving success, we will increase the revenues and we will move towards being self-sufficient. But in the meantime, we will have the support of the Pozzos,” the chief executive added.

Comments(15)

Colin West's mullet says...
3:21pm Fri 20 Jul 12

yes yes yes, but what was in the safe Ducky?

Report this post »

desk35 says...
3:23pm Fri 20 Jul 12

Need to pinch myself here .
wow

Report this post »

mattymashup says...
4:05pm Fri 20 Jul 12

Hahaha Scott loaches top value was 200k! Lmfao

Report this post »

Ronny oh Ronny Ronny says...
4:48pm Fri 20 Jul 12

Colin West's mullet wrote:
yes yes yes, but what was in the safe Ducky?
Hahaha brilliant, beat me to it!

So we will sell players at their top value and replace them with a better, younger player????
Mapps - Hall
Loach - Almunia?!
Not really practicing what they preach at the moment.
Don't get me wrong, this is the best news that we have had in our history I would say, so hopefully it's just a bit of transition for now to get a balanced, decent squad who can compete and hopefully achieve promotion first!.... I hope!!!!!

Report this post »

Back from Hammerau says...
4:55pm Fri 20 Jul 12

If we don't sell players to fund operating losses, how will we plug the financial gap?
Football League Financial Play rules are coming into effect this season which limit the losses clubs are allowed to make and the amounts owners can plough in.

Report this post »

andyhooked says...
5:13pm Fri 20 Jul 12

Doh! We have nobody to sell any how.

Report this post »

stevyweavy says...
5:15pm Fri 20 Jul 12

Back from Hammerau wrote:
If we don't sell players to fund operating losses, how will we plug the financial gap?
Football League Financial Play rules are coming into effect this season which limit the losses clubs are allowed to make and the amounts owners can plough in.
These rules are rubbish - if you want to get round it simply create and issue more shares in the company to yourself so as to be able to put more cash in.

Report this post »

Bringe says...
5:16pm Fri 20 Jul 12

The season long loans we get will be for nominal fee's so theoretically we'll have little to spend on, just the positions that Udinese, Granada and ourselves are short on cover for. There's no way we can run at a profit until we are actually in the Premiership but the owners are quite prepared for all that. We won't be shopping in the same expensive markets that Forest, Leicester and Leeds will be forced to use but we will most likely have access to more suitable or even better players. Even if they don't spend it the owners have plenty of money so the financial fair play rules will never be a problem.

Report this post »

QUINNPT says...
10:51pm Fri 20 Jul 12

Guys Structure of Ground improvemeents and cost of Acdamey don't go towards the rules.
We can have a loss off c£4m this year then c£2m next season.
Mapps wanted to play in the Prem which you can't deny him of that opportunity. We can't guarantee him prem football yet.
As for Loach unfortunately he had lost his confidence, though I do agree £200k does seem a bit cheep.
We don't know that Loach's Agent may have been sniffing around for him and an opportunity came up.
What ever you may have thought of the previous owner , the club would have stated the value of each player as part of the Due-Diligence that would have been carried out by the Pozzo's.
Though I agree the comments do contradict themselves. Howerver, the proof will be the players we bring in which the money that we got will be used for signing on fees and to cover increase in salaries irrespective if they are loans or free transfers.

Report this post »

Roger "Studs" Joslyn says...
8:47am Sat 21 Jul 12

I am finding our new circumstances very exciting and keep finding myself logging on and searching for more news - very distracting!! Bring on the season. COYH!!!

Report this post »

holtonian says...
10:09am Sat 21 Jul 12

Best news at our club in years at long last some optimism and a real future to look forward to.For years i have mostly read just doom and gloom comments on here. But it appears that the majority have accepted the new look WFC, an entirely differant concept of what we had in the past. I for one believe it is the only way to move on and forwards and consider us lucky in gaining our new team of management. After all the Pozzo family have proved there aims with other clubs and do not doubt there total sincerity.Like the majority i was upset with Seans dismissal but yet again so happy to see Gianfranco take the new role on, i have always been an admirer of his play and the personality he has, one of the most respected players in the world. Long term that will hold our club with the chance to rub shoulders with class players.We can become noticed, not for being the last stop on the tubes but as a football club.Lets keep supporting our side there are some tough times coming up the next few months in our major transition.This will not be a quick fix situation as i am sure most understand.The futures looking good.

Report this post »

southernhornet says...
12:16pm Sat 21 Jul 12

This wouldn't be the Duxberry spin beginning to emerge from Vicarage Road, we were warned, we were well and truly warned!

In Pozzo I trust .

Report this post »

CreteJoe says...
1:29pm Sat 21 Jul 12

southernhornet wrote:
This wouldn't be the Duxberry spin beginning to emerge from Vicarage Road, we were warned, we were well and truly warned!

In Pozzo I trust .
Would you buy a used car from Duxbury?

Report this post »

corbindallas says...
2:13pm Sat 21 Jul 12

CreteJoe wrote:
southernhornet wrote:
This wouldn't be the Duxberry spin beginning to emerge from Vicarage Road, we were warned, we were well and truly warned!

In Pozzo I trust .
Would you buy a used car from Duxbury?
No, would you?

Report this post »

Bringe says...
12:09am Sun 22 Jul 12

Get a grip guys he's not the devil incarnate and you should know that fickle hammers fans always need a hate figure or figures as in this case. They are just disgruntled their little jolie in the Prem had to end, according to them Duxbury and Nani are solely responsible for the world economy crash that made paupers of their rich owners.

I'd buy a used car from him so long as it's not a Baz Bentley special.

Report this post »

click2find

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree