Watford's annual turnover increases by almost £7m for the year ending June 2013

Watford have improved on and off the field under the ownership of Gino Pozzo. Picture: Holly Cant

Watford have improved on and off the field under the ownership of Gino Pozzo. Picture: Holly Cant

First published in Watford FC News
Last updated
Watford Observer: Photograph of the Author by , Deputy Group Sports Editor

Watford FC's parent company made a pre-tax profit of £190,000 for the year ending June 30.

This is compared to a pre-tax loss of £2.65m for the previous 12-month period.

Watford Association Football Club Limited's report and financial statements for the year ending June 30 2013 made an operating loss of £2.07m but this was offset by profit on disposable of player registrations of £2.59m.

The operating loss of just over £2m is a considerably improvement on the £6.79m operating loss during the year ending June 30 2012, which was when the club changed ownership from Laurence Bassini to the Pozzo family.

Turnover has increased by £6.95m. Just under £2.58m of that sum was due to participation in the Championship Play-Offs and the rest was down to "improved commercial performance of the business".

There will be more on the company's report and financial statements uploaded in due course.

The company's AGM will be held at Vicarage Road on Monday, December 9 at 2pm.

The board of directors consist of executive chairman Raffaele Riva, CEO Scott Duxbury and technical director Gian Luca Nani (the latter both executive directors). David Fransen and Stuart Timperley are non-executive directors.

Watford legends Sir Elton John and Graham Taylor remain honorary life presidents.

Comments (34)

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1:14pm Mon 18 Nov 13

djdooza says...

The Pozzo effect :)
The Pozzo effect :) djdooza
  • Score: 26

1:34pm Mon 18 Nov 13

1982WFC says...

Compare that to the the loses that club from Shepherds Bush currently make, estimated to be around £80 million for the season 2012-13. Watford really are what is wrong with modern football aren't they.
Compare that to the the loses that club from Shepherds Bush currently make, estimated to be around £80 million for the season 2012-13. Watford really are what is wrong with modern football aren't they. 1982WFC
  • Score: 59

2:20pm Mon 18 Nov 13

akureyri says...

When was the last time the club made a profit?
When was the last time the club made a profit? akureyri
  • Score: 11

2:33pm Mon 18 Nov 13

soulfulhornet says...

Great news. The devil will be in the detail of course, but increasing revenues by nearly £7m is fantastic. Ok c £2.5m was down the playoffs, but that means £4.5m was not. , In the current financial year our crowds have increased by c 3,000 per game on last season. And with the new stand coming on board sometime during the season, match day revenues should increase further.

Transfer income will be slightly lower, but not by much with the sales of Britt, Craig Forsyth and Hogg against Mariappa the season before.

Hats off to the management team and Scott Duxbury in particular.
Great news. The devil will be in the detail of course, but increasing revenues by nearly £7m is fantastic. Ok c £2.5m was down the playoffs, but that means £4.5m was not. , In the current financial year our crowds have increased by c 3,000 per game on last season. And with the new stand coming on board sometime during the season, match day revenues should increase further. Transfer income will be slightly lower, but not by much with the sales of Britt, Craig Forsyth and Hogg against Mariappa the season before. Hats off to the management team and Scott Duxbury in particular. soulfulhornet
  • Score: 34

3:02pm Mon 18 Nov 13

Guy Bov says...

Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over.

Good to see revenue up and hope will continue when the new east stand comes on stream.

Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.
Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells. Guy Bov
  • Score: 11

3:44pm Mon 18 Nov 13

Harry's Bar says...

Guy Bov wrote:
Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over.

Good to see revenue up and hope will continue when the new east stand comes on stream.

Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.
Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.
[quote][p][bold]Guy Bov[/bold] wrote: Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.[/p][/quote]Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer. Harry's Bar
  • Score: 11

4:05pm Mon 18 Nov 13

1982WFC says...

Harry's Bar wrote:
Guy Bov wrote:
Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over.

Good to see revenue up and hope will continue when the new east stand comes on stream.

Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.
Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.
I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey.
We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but.....
what if they don't?
[quote][p][bold]Harry's Bar[/bold] wrote: [quote][p][bold]Guy Bov[/bold] wrote: Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.[/p][/quote]Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.[/p][/quote]I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey. We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but..... what if they don't? 1982WFC
  • Score: 28

4:09pm Mon 18 Nov 13

MainStandShambles says...

akureyri wrote:
When was the last time the club made a profit?
My thoughts exactly.

I also wonder if Martin Samuels would care to make a comment on this piece of news !?!!
[quote][p][bold]akureyri[/bold] wrote: When was the last time the club made a profit?[/p][/quote]My thoughts exactly. I also wonder if Martin Samuels would care to make a comment on this piece of news !?!! MainStandShambles
  • Score: 32

4:13pm Mon 18 Nov 13

mellow yellow says...

We are in the safest hands in football. In Pozzo Veritas. Or something.
We are in the safest hands in football. In Pozzo Veritas. Or something. mellow yellow
  • Score: 22

4:14pm Mon 18 Nov 13

demerit says...

akureyri wrote:
When was the last time the club made a profit?
They haven't this time after the taxes have been added....come on give me all those negative points!
[quote][p][bold]akureyri[/bold] wrote: When was the last time the club made a profit?[/p][/quote]They haven't this time after the taxes have been added....come on give me all those negative points! demerit
  • Score: -32

4:21pm Mon 18 Nov 13

garston 'orn says...

1982WFC wrote:
Harry's Bar wrote:
Guy Bov wrote:
Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over.

Good to see revenue up and hope will continue when the new east stand comes on stream.

Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.
Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.
I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey.
We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but.....
what if they don't?
Charlie Austin not prem quality? For 2.5m it was one of the best signing in the championship! hes young scored 25 odd last season more than jay Rodriquez and look at him now!
[quote][p][bold]1982WFC[/bold] wrote: [quote][p][bold]Harry's Bar[/bold] wrote: [quote][p][bold]Guy Bov[/bold] wrote: Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.[/p][/quote]Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.[/p][/quote]I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey. We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but..... what if they don't?[/p][/quote]Charlie Austin not prem quality? For 2.5m it was one of the best signing in the championship! hes young scored 25 odd last season more than jay Rodriquez and look at him now! garston 'orn
  • Score: -8

4:28pm Mon 18 Nov 13

stevyweavy says...

Pleasing news and further proof that we are moving in the right direction. Just out of interest does anybody know what happened regarding the player loan court case? Last I heard we were just waiting for the court's decision but that was a few months ago and as far as I am aware nothing has been reported since.
Pleasing news and further proof that we are moving in the right direction. Just out of interest does anybody know what happened regarding the player loan court case? Last I heard we were just waiting for the court's decision but that was a few months ago and as far as I am aware nothing has been reported since. stevyweavy
  • Score: 8

4:34pm Mon 18 Nov 13

andyhooked says...

A massive step forward but I do not understand the difference betweeen an operating loss and a small pre-tax profit. Nevertheless, player disposals helped to balance the books. Will the investments in the new stand make a difference to the accounts staements next year? But who cares! WE are now on the way up to being run as a more viable business and ALL POWER TO THE POZZOS OUR SAVIOURS. Still have loads of loans to service though but we are now solvent and in danger of going bust.
A massive step forward but I do not understand the difference betweeen an operating loss and a small pre-tax profit. Nevertheless, player disposals helped to balance the books. Will the investments in the new stand make a difference to the accounts staements next year? But who cares! WE are now on the way up to being run as a more viable business and ALL POWER TO THE POZZOS OUR SAVIOURS. Still have loads of loans to service though but we are now solvent and in danger of going bust. andyhooked
  • Score: 3

5:02pm Mon 18 Nov 13

GoldenManc says...

andyhooked wrote:
A massive step forward but I do not understand the difference betweeen an operating loss and a small pre-tax profit. Nevertheless, player disposals helped to balance the books. Will the investments in the new stand make a difference to the accounts staements next year? But who cares! WE are now on the way up to being run as a more viable business and ALL POWER TO THE POZZOS OUR SAVIOURS. Still have loads of loans to service though but we are now solvent and in danger of going bust.
Operating loss (without player transfers) - Profit due to +£2M net transfer revenue -
[quote][p][bold]andyhooked[/bold] wrote: A massive step forward but I do not understand the difference betweeen an operating loss and a small pre-tax profit. Nevertheless, player disposals helped to balance the books. Will the investments in the new stand make a difference to the accounts staements next year? But who cares! WE are now on the way up to being run as a more viable business and ALL POWER TO THE POZZOS OUR SAVIOURS. Still have loads of loans to service though but we are now solvent and in danger of going bust.[/p][/quote]Operating loss (without player transfers) - Profit due to +£2M net transfer revenue - GoldenManc
  • Score: 3

5:03pm Mon 18 Nov 13

andyhooked says...

Sorry missed a word out. NOT IN DABGER OF GOING BUST
Sorry missed a word out. NOT IN DABGER OF GOING BUST andyhooked
  • Score: 8

6:36pm Mon 18 Nov 13

demerit says...

andyhooked wrote:
Sorry missed a word out. NOT IN DABGER OF GOING BUST
What's the badger cull got to do with it?
[quote][p][bold]andyhooked[/bold] wrote: Sorry missed a word out. NOT IN DABGER OF GOING BUST[/p][/quote]What's the badger cull got to do with it? demerit
  • Score: 7

8:31pm Mon 18 Nov 13

piemagico says...

demerit wrote:
akureyri wrote:
When was the last time the club made a profit?
They haven't this time after the taxes have been added....come on give me all those negative points!
Really? Seems unlikely. Where can we read the accounts to see this? I'd have thought WFC have racked up enough tax losses to make RBS blush.
[quote][p][bold]demerit[/bold] wrote: [quote][p][bold]akureyri[/bold] wrote: When was the last time the club made a profit?[/p][/quote]They haven't this time after the taxes have been added....come on give me all those negative points![/p][/quote]Really? Seems unlikely. Where can we read the accounts to see this? I'd have thought WFC have racked up enough tax losses to make RBS blush. piemagico
  • Score: -3

9:38pm Mon 18 Nov 13

demerit says...

piemagico wrote:
demerit wrote:
akureyri wrote:
When was the last time the club made a profit?
They haven't this time after the taxes have been added....come on give me all those negative points!
Really? Seems unlikely. Where can we read the accounts to see this? I'd have thought WFC have racked up enough tax losses to make RBS blush.
Yes, you may be right but I wonder then why they didn't just say "net profits" and be done with it.
[quote][p][bold]piemagico[/bold] wrote: [quote][p][bold]demerit[/bold] wrote: [quote][p][bold]akureyri[/bold] wrote: When was the last time the club made a profit?[/p][/quote]They haven't this time after the taxes have been added....come on give me all those negative points![/p][/quote]Really? Seems unlikely. Where can we read the accounts to see this? I'd have thought WFC have racked up enough tax losses to make RBS blush.[/p][/quote]Yes, you may be right but I wonder then why they didn't just say "net profits" and be done with it. demerit
  • Score: 1

9:59pm Mon 18 Nov 13

1982WFC says...

garston 'orn wrote:
1982WFC wrote:
Harry's Bar wrote:
Guy Bov wrote:
Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over.

Good to see revenue up and hope will continue when the new east stand comes on stream.

Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.
Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.
I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey.
We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but.....
what if they don't?
Charlie Austin not prem quality? For 2.5m it was one of the best signing in the championship! hes young scored 25 odd last season more than jay Rodriquez and look at him now!
You answered your own question. He may well be one of the best signings in the Championship, that's precisely my point. That is his level, maybe at a push do a job in the lower half Premier League but I very much doubt it, for every Rodriguez there is a DJ Campbell, David Nugent, Jay Bothroyd & Steve Morrison. Players who will score goals in the football league but are simply not good enough for the Premier League. QPR are nothing short of a joke the way they buy players and put them on ridiculous salaries. Should they go up they will have to buy again as the current squad would struggle, what do they do with the players signed to get them out of the Championship? They sit on the bench or in the stand picking up wages because no other club is stupid enough to pay the outrageous salaries. I'm talking best case senario here too, if they do not get promotion they are in serious trouble. Give me the Pozzo way everytime. Football owners who know how to run a club, not some numpty with a cheque book allowing a second hand car dealer to spend someones elses money.
[quote][p][bold]garston 'orn[/bold] wrote: [quote][p][bold]1982WFC[/bold] wrote: [quote][p][bold]Harry's Bar[/bold] wrote: [quote][p][bold]Guy Bov[/bold] wrote: Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.[/p][/quote]Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.[/p][/quote]I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey. We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but..... what if they don't?[/p][/quote]Charlie Austin not prem quality? For 2.5m it was one of the best signing in the championship! hes young scored 25 odd last season more than jay Rodriquez and look at him now![/p][/quote]You answered your own question. He may well be one of the best signings in the Championship, that's precisely my point. That is his level, maybe at a push do a job in the lower half Premier League but I very much doubt it, for every Rodriguez there is a DJ Campbell, David Nugent, Jay Bothroyd & Steve Morrison. Players who will score goals in the football league but are simply not good enough for the Premier League. QPR are nothing short of a joke the way they buy players and put them on ridiculous salaries. Should they go up they will have to buy again as the current squad would struggle, what do they do with the players signed to get them out of the Championship? They sit on the bench or in the stand picking up wages because no other club is stupid enough to pay the outrageous salaries. I'm talking best case senario here too, if they do not get promotion they are in serious trouble. Give me the Pozzo way everytime. Football owners who know how to run a club, not some numpty with a cheque book allowing a second hand car dealer to spend someones elses money. 1982WFC
  • Score: 12

11:10pm Mon 18 Nov 13

bushey tales says...

Given the positive nature of these results and what's going on at the club generally, why on earth do they make it so difficult to attend the AGM? Last year, with a 6pm start, I think I counted 17 shareholders at the meeting. It's now on a Monday afternoon. In December. Anybody would think they wanted nobody there, to ask difficult questions. Oh...........
Given the positive nature of these results and what's going on at the club generally, why on earth do they make it so difficult to attend the AGM? Last year, with a 6pm start, I think I counted 17 shareholders at the meeting. It's now on a Monday afternoon. In December. Anybody would think they wanted nobody there, to ask difficult questions. Oh........... bushey tales
  • Score: -8

11:47pm Mon 18 Nov 13

londomollari says...

Just out of curiosity, how much of the expenditure was wages? Did Watford pay all the loanees wages, or part, or did Udinese pay them?
Just out of curiosity, how much of the expenditure was wages? Did Watford pay all the loanees wages, or part, or did Udinese pay them? londomollari
  • Score: 2

10:39am Tue 19 Nov 13

jasonwatford says...

Watford did pay in full loanee wages , this was an agreement that Watford would be a complete separate business.
Watford did pay in full loanee wages , this was an agreement that Watford would be a complete separate business. jasonwatford
  • Score: 2

11:43am Tue 19 Nov 13

Hairy Hornet says...

Fantastic news. Back to being a club run on a sound financial footing. These are proper football owners who not only understand and love the game they know how to run a business and have competent professional people working for them.

Thank god the days of the crispy salads and the hard hat wearing Baz are over. So many clubs would love to be in our position, and I include the moneybags clubs with owners who have questionable credentials.
Fantastic news. Back to being a club run on a sound financial footing. These are proper football owners who not only understand and love the game they know how to run a business and have competent professional people working for them. Thank god the days of the crispy salads and the hard hat wearing Baz are over. So many clubs would love to be in our position, and I include the moneybags clubs with owners who have questionable credentials. Hairy Hornet
  • Score: 11

11:43am Tue 19 Nov 13

londomollari says...

jasonwatford wrote:
Watford did pay in full loanee wages , this was an agreement that Watford would be a complete separate business.
Thanks. If so, then it makes the released figures very impressive--yes, how long ago were Watford able to put out figures showing a profit? Obviously, not paying transfer fees has helped.
[quote][p][bold]jasonwatford[/bold] wrote: Watford did pay in full loanee wages , this was an agreement that Watford would be a complete separate business.[/p][/quote]Thanks. If so, then it makes the released figures very impressive--yes, how long ago were Watford able to put out figures showing a profit? Obviously, not paying transfer fees has helped. londomollari
  • Score: 4

11:48am Tue 19 Nov 13

londomollari says...

Hairy Hornet wrote:
Fantastic news. Back to being a club run on a sound financial footing. These are proper football owners who not only understand and love the game they know how to run a business and have competent professional people working for them.

Thank god the days of the crispy salads and the hard hat wearing Baz are over. So many clubs would love to be in our position, and I include the moneybags clubs with owners who have questionable credentials.
Yes! How many clubs (QPR, for instance) have supporters enjoying the 'success' of the moment, but are worrying about what will happen when the current owners either lose interest, run out of money, go bust or isolate the club from its supporters (Cardiff)?
[quote][p][bold]Hairy Hornet[/bold] wrote: Fantastic news. Back to being a club run on a sound financial footing. These are proper football owners who not only understand and love the game they know how to run a business and have competent professional people working for them. Thank god the days of the crispy salads and the hard hat wearing Baz are over. So many clubs would love to be in our position, and I include the moneybags clubs with owners who have questionable credentials.[/p][/quote]Yes! How many clubs (QPR, for instance) have supporters enjoying the 'success' of the moment, but are worrying about what will happen when the current owners either lose interest, run out of money, go bust or isolate the club from its supporters (Cardiff)? londomollari
  • Score: 7

11:49am Tue 19 Nov 13

soulfulhornet says...

1982WFC wrote:
garston 'orn wrote:
1982WFC wrote:
Harry's Bar wrote:
Guy Bov wrote: Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.
Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.
I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey. We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but..... what if they don't?
Charlie Austin not prem quality? For 2.5m it was one of the best signing in the championship! hes young scored 25 odd last season more than jay Rodriquez and look at him now!
You answered your own question. He may well be one of the best signings in the Championship, that's precisely my point. That is his level, maybe at a push do a job in the lower half Premier League but I very much doubt it, for every Rodriguez there is a DJ Campbell, David Nugent, Jay Bothroyd & Steve Morrison. Players who will score goals in the football league but are simply not good enough for the Premier League. QPR are nothing short of a joke the way they buy players and put them on ridiculous salaries. Should they go up they will have to buy again as the current squad would struggle, what do they do with the players signed to get them out of the Championship? They sit on the bench or in the stand picking up wages because no other club is stupid enough to pay the outrageous salaries. I'm talking best case senario here too, if they do not get promotion they are in serious trouble. Give me the Pozzo way everytime. Football owners who know how to run a club, not some numpty with a cheque book allowing a second hand car dealer to spend someones elses money.
Joke or not QPR have a methodology under Tony Fernandez that got them promoted. Al beit at a cost. And if the reports re possible fines are true, a hefty one at that.

Our owners have a different model which incorporates sustainability and a long term vision. Given the Pozzos success in Italy and Spain and very good start with us, I doubt they will break with that model.

That model does not include paying a premium in fees (wasn’t Nosworthy the last player we actually ‘bought’?) or wages for what are very good but only very good players like Austin or Nugent. This was proved by the refusal to pay Chalobah's reputed £35k per week wage. Paying those kind of wages is ludicrous at this level and is not sustainable in the long term as teams like Forest, Leicester et al may yet discover...very soon. QPR could be the first of many to fall foul of the new rules and regs.

As regards Charlie Austin he is proven at this level, however, he has fitness issues, I recall he failed a medical at Hull back in August that scuppered a move there.

The Pozzos are shrewd operators and we may benefit from their philosophy and its synergy with the financial fair play rules designed to tackle the management of league clubs that was partially instigated by the proliferation of foreign ownership! What irony!

Austin, Nugent, Jordan Rhodes…thanks but no thanks.

Do not be surprised if the Pozzos scouting network unearth a gem of a goalscorer for us that none of us have ever heard of in January or the summer. That’s how they do business.
[quote][p][bold]1982WFC[/bold] wrote: [quote][p][bold]garston 'orn[/bold] wrote: [quote][p][bold]1982WFC[/bold] wrote: [quote][p][bold]Harry's Bar[/bold] wrote: [quote][p][bold]Guy Bov[/bold] wrote: Encouraging particularly bearing in mind the mess we were in when the Pozzo's took over. Good to see revenue up and hope will continue when the new east stand comes on stream. Does though show we still have to be prudent and are not in a position to splash cash on the likes of Nakhi Wells.[/p][/quote]Sometimes you need to speculate to accumulate. Spend wisely in January and the returns could make these figures look like beer money. I'm not advocating a QPR style approach but it must be tempting to "splash the cash" on a goalscorer.[/p][/quote]I see your point but who could we bring in? A "proven Championship" forward who is then not good enough should we get promoted who would sign at least a 3 year deal then sit on the bench picking up wages. The Pozzos just simply do not operate like that. I could be wrong but Charlie Austin etc are not premier league class, QPR will be stuck with another massively bloated squad on huge money even if they go up as they would need to buy even more players of better quality than they have (Clint Hill anybody?) to avoid relegation again. Their way of operating is a shambles, living way above their means. They could if they are not careful end up like Pompey. We will strengthen in January I'm sure but the difference is we will add quality players at a fraction of the sums being paid by others. Our future is safe, there is no gamble. Teams like QPR may well get promoted but..... what if they don't?[/p][/quote]Charlie Austin not prem quality? For 2.5m it was one of the best signing in the championship! hes young scored 25 odd last season more than jay Rodriquez and look at him now![/p][/quote]You answered your own question. He may well be one of the best signings in the Championship, that's precisely my point. That is his level, maybe at a push do a job in the lower half Premier League but I very much doubt it, for every Rodriguez there is a DJ Campbell, David Nugent, Jay Bothroyd & Steve Morrison. Players who will score goals in the football league but are simply not good enough for the Premier League. QPR are nothing short of a joke the way they buy players and put them on ridiculous salaries. Should they go up they will have to buy again as the current squad would struggle, what do they do with the players signed to get them out of the Championship? They sit on the bench or in the stand picking up wages because no other club is stupid enough to pay the outrageous salaries. I'm talking best case senario here too, if they do not get promotion they are in serious trouble. Give me the Pozzo way everytime. Football owners who know how to run a club, not some numpty with a cheque book allowing a second hand car dealer to spend someones elses money.[/p][/quote]Joke or not QPR have a methodology under Tony Fernandez that got them promoted. Al beit at a cost. And if the reports re possible fines are true, a hefty one at that. Our owners have a different model which incorporates sustainability and a long term vision. Given the Pozzos success in Italy and Spain and very good start with us, I doubt they will break with that model. That model does not include paying a premium in fees (wasn’t Nosworthy the last player we actually ‘bought’?) or wages for what are very good but only very good players like Austin or Nugent. This was proved by the refusal to pay Chalobah's reputed £35k per week wage. Paying those kind of wages is ludicrous at this level and is not sustainable in the long term as teams like Forest, Leicester et al may yet discover...very soon. QPR could be the first of many to fall foul of the new rules and regs. As regards Charlie Austin he is proven at this level, however, he has fitness issues, I recall he failed a medical at Hull back in August that scuppered a move there. The Pozzos are shrewd operators and we may benefit from their philosophy and its synergy with the financial fair play rules designed to tackle the management of league clubs that was partially instigated by the proliferation of foreign ownership! What irony! Austin, Nugent, Jordan Rhodes…thanks but no thanks. Do not be surprised if the Pozzos scouting network unearth a gem of a goalscorer for us that none of us have ever heard of in January or the summer. That’s how they do business. soulfulhornet
  • Score: 10

12:00pm Tue 19 Nov 13

jasonwatford says...

A certain Matej Vydra may well come back to learn his trade again now his taste of the prem is not as sweet as he thought it would be. New deal with Papa Pozzo has been done so it wouldn't surprise me to see him back wherever we are in August next year.
A certain Matej Vydra may well come back to learn his trade again now his taste of the prem is not as sweet as he thought it would be. New deal with Papa Pozzo has been done so it wouldn't surprise me to see him back wherever we are in August next year. jasonwatford
  • Score: 3

1:59pm Tue 19 Nov 13

Harry's Bar says...

GoldenManc wrote:
andyhooked wrote:
A massive step forward but I do not understand the difference betweeen an operating loss and a small pre-tax profit. Nevertheless, player disposals helped to balance the books. Will the investments in the new stand make a difference to the accounts staements next year? But who cares! WE are now on the way up to being run as a more viable business and ALL POWER TO THE POZZOS OUR SAVIOURS. Still have loads of loans to service though but we are now solvent and in danger of going bust.
Operating loss (without player transfers) - Profit due to +£2M net transfer revenue -
Presumably we would have paid transfer fees for the players who joined permanently from Udinese and Granada to offset any substantial taxable profit. Dependent on the accounts of those clubs and tax laws in Italy and Spain I guess.
[quote][p][bold]GoldenManc[/bold] wrote: [quote][p][bold]andyhooked[/bold] wrote: A massive step forward but I do not understand the difference betweeen an operating loss and a small pre-tax profit. Nevertheless, player disposals helped to balance the books. Will the investments in the new stand make a difference to the accounts staements next year? But who cares! WE are now on the way up to being run as a more viable business and ALL POWER TO THE POZZOS OUR SAVIOURS. Still have loads of loans to service though but we are now solvent and in danger of going bust.[/p][/quote]Operating loss (without player transfers) - Profit due to +£2M net transfer revenue -[/p][/quote]Presumably we would have paid transfer fees for the players who joined permanently from Udinese and Granada to offset any substantial taxable profit. Dependent on the accounts of those clubs and tax laws in Italy and Spain I guess. Harry's Bar
  • Score: 2

3:41pm Tue 19 Nov 13

andyhooked says...

An after thought. When I commented before about loans I should have been clearer. I meant how much do we still owe to the likes of Simpson, Lord Ashcroft and whatever the outcome of Corporal Baz's dealings that have him to court? All seems to be quiet on the Corporal Baz front and the company that he borrowed from. I did not mean to imply loan players but what we may still owe on loans and how this may appear in the accounts..

I hope that now Vydra sacks his agent and does find his way back to us but will he still be the same player? I suspect not.

PS. I remain awed by the Pozzos so just opening up a discussion.
An after thought. When I commented before about loans I should have been clearer. I meant how much do we still owe to the likes of Simpson, Lord Ashcroft and whatever the outcome of Corporal Baz's dealings that have him to court? All seems to be quiet on the Corporal Baz front and the company that he borrowed from. I did not mean to imply loan players but what we may still owe on loans and how this may appear in the accounts.. I hope that now Vydra sacks his agent and does find his way back to us but will he still be the same player? I suspect not. PS. I remain awed by the Pozzos so just opening up a discussion. andyhooked
  • Score: 1

6:33pm Tue 19 Nov 13

apatters says...

So, we've a team playing magnificent footy, a legend manager, owners who are proper football people who haven't changed the soul of the club, a new stand going up, the openness of fans' forums retained and we're making money.

What is there not to like?

Well done fellas - you deserve success and credit for the first phase of your tenure.
So, we've a team playing magnificent footy, a legend manager, owners who are proper football people who haven't changed the soul of the club, a new stand going up, the openness of fans' forums retained and we're making money. What is there not to like? Well done fellas - you deserve success and credit for the first phase of your tenure. apatters
  • Score: 4

7:39am Wed 20 Nov 13

mellow yellow says...

andyhooked wrote:
An after thought. When I commented before about loans I should have been clearer. I meant how much do we still owe to the likes of Simpson, Lord Ashcroft and whatever the outcome of Corporal Baz's dealings that have him to court? All seems to be quiet on the Corporal Baz front and the company that he borrowed from. I did not mean to imply loan players but what we may still owe on loans and how this may appear in the accounts..

I hope that now Vydra sacks his agent and does find his way back to us but will he still be the same player? I suspect not.

PS. I remain awed by the Pozzos so just opening up a discussion.
Vydra's agent is the same man/company who represents Pudil, who seems to have conducted himself with dignity and respect in his dealings with Watford. Perhaps Vydra is not as innocent as some here would like to think. Not a criticism, just an indication of the Championship Player of the Season wanting a higher profile. Well, that hasn't actually gone to plan, as plenty of my non-Watford mates regularly ask me 'what happened to that bloke Vydra you had last season?' As for him coming back, I'm really not sure that would happen now. Time will tell, I guess.
[quote][p][bold]andyhooked[/bold] wrote: An after thought. When I commented before about loans I should have been clearer. I meant how much do we still owe to the likes of Simpson, Lord Ashcroft and whatever the outcome of Corporal Baz's dealings that have him to court? All seems to be quiet on the Corporal Baz front and the company that he borrowed from. I did not mean to imply loan players but what we may still owe on loans and how this may appear in the accounts.. I hope that now Vydra sacks his agent and does find his way back to us but will he still be the same player? I suspect not. PS. I remain awed by the Pozzos so just opening up a discussion.[/p][/quote]Vydra's agent is the same man/company who represents Pudil, who seems to have conducted himself with dignity and respect in his dealings with Watford. Perhaps Vydra is not as innocent as some here would like to think. Not a criticism, just an indication of the Championship Player of the Season wanting a higher profile. Well, that hasn't actually gone to plan, as plenty of my non-Watford mates regularly ask me 'what happened to that bloke Vydra you had last season?' As for him coming back, I'm really not sure that would happen now. Time will tell, I guess. mellow yellow
  • Score: 0

1:29pm Wed 20 Nov 13

soulfulhornet says...

mellow yellow wrote:
andyhooked wrote: An after thought. When I commented before about loans I should have been clearer. I meant how much do we still owe to the likes of Simpson, Lord Ashcroft and whatever the outcome of Corporal Baz's dealings that have him to court? All seems to be quiet on the Corporal Baz front and the company that he borrowed from. I did not mean to imply loan players but what we may still owe on loans and how this may appear in the accounts.. I hope that now Vydra sacks his agent and does find his way back to us but will he still be the same player? I suspect not. PS. I remain awed by the Pozzos so just opening up a discussion.
Vydra's agent is the same man/company who represents Pudil, who seems to have conducted himself with dignity and respect in his dealings with Watford. Perhaps Vydra is not as innocent as some here would like to think. Not a criticism, just an indication of the Championship Player of the Season wanting a higher profile. Well, that hasn't actually gone to plan, as plenty of my non-Watford mates regularly ask me 'what happened to that bloke Vydra you had last season?' As for him coming back, I'm really not sure that would happen now. Time will tell, I guess.
Agree, agents are just that the agent of the player. The player is the boss, and yes some agents may overstep the mark by cajoling the players into something they are reluctant to do, but overall agents act on behalf of and in the interest of their client (or at least they should).

With Matej I guess he wanted to play at the highest level either Prem or Bundesliga asap. With football being a short career and with his record of long term injuries, you can hardly blame him.

In hindsight, the loan move to WBA has not worked, so Vydra might have a change of heart re the horns. And who knows what was agreed between the player and the Pozzos prior to the loan.

As regards the Ashcroft/ Simpson loans, it is my understanding from WO reports that the Pozzos merely took over the loans from Baz, so the repayment terms, interest etc would be the same as before. What would appear in the P&L would be the interest during that financial year, not the capital repayment.

Which law case do you refer to ? On October 11th the WO reported that the verdict in the case bt Watford FC and LNOC re the loans v Danny Graham transfer and Football League monies was expected within 8 weeks, so any day within the next 2 weeks we should know.
[quote][p][bold]mellow yellow[/bold] wrote: [quote][p][bold]andyhooked[/bold] wrote: An after thought. When I commented before about loans I should have been clearer. I meant how much do we still owe to the likes of Simpson, Lord Ashcroft and whatever the outcome of Corporal Baz's dealings that have him to court? All seems to be quiet on the Corporal Baz front and the company that he borrowed from. I did not mean to imply loan players but what we may still owe on loans and how this may appear in the accounts.. I hope that now Vydra sacks his agent and does find his way back to us but will he still be the same player? I suspect not. PS. I remain awed by the Pozzos so just opening up a discussion.[/p][/quote]Vydra's agent is the same man/company who represents Pudil, who seems to have conducted himself with dignity and respect in his dealings with Watford. Perhaps Vydra is not as innocent as some here would like to think. Not a criticism, just an indication of the Championship Player of the Season wanting a higher profile. Well, that hasn't actually gone to plan, as plenty of my non-Watford mates regularly ask me 'what happened to that bloke Vydra you had last season?' As for him coming back, I'm really not sure that would happen now. Time will tell, I guess.[/p][/quote]Agree, agents are just that the agent of the player. The player is the boss, and yes some agents may overstep the mark by cajoling the players into something they are reluctant to do, but overall agents act on behalf of and in the interest of their client (or at least they should). With Matej I guess he wanted to play at the highest level either Prem or Bundesliga asap. With football being a short career and with his record of long term injuries, you can hardly blame him. In hindsight, the loan move to WBA has not worked, so Vydra might have a change of heart re the horns. And who knows what was agreed between the player and the Pozzos prior to the loan. As regards the Ashcroft/ Simpson loans, it is my understanding from WO reports that the Pozzos merely took over the loans from Baz, so the repayment terms, interest etc would be the same as before. What would appear in the P&L would be the interest during that financial year, not the capital repayment. Which law case do you refer to ? On October 11th the WO reported that the verdict in the case bt Watford FC and LNOC re the loans v Danny Graham transfer and Football League monies was expected within 8 weeks, so any day within the next 2 weeks we should know. soulfulhornet
  • Score: 1

8:35pm Wed 20 Nov 13

BryantheOrn says...

In the words of The Judean Popular Front, "What have the Pozzos ever done for us?
In the words of The Judean Popular Front, "What have the Pozzos ever done for us? BryantheOrn
  • Score: -2

3:48pm Thu 21 Nov 13

ForzaWatford says...

Is it just me or does Gino Pozzo look like an older Fernando Forestieri?
Is it just me or does Gino Pozzo look like an older Fernando Forestieri? ForzaWatford
  • Score: 0

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