Discover and read the best of Twitter Threads about #watfordfc

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After the longest-ever Premier League season, the three clubs that ended up being relegated to the Championship turned out to be Bournemouth, Norwich City and Watford, but what will the impact be on their finances? #AFCB #NCFC #WatfordFC
Looking at the last reported numbers from 2018/19, it would appear that #AFCB have most to fear, because they had by far the largest operating loss (£30m) and highest wage bill (£111m). #WatfordFC operating loss was only £6m, while I estimate small profit for #NCFC (pre-COVID).
In 2018/19 #WatfordFC had the highest revenue of the relegated clubs with £148m, ahead of £136m for #NCFC (estimated, as played in Championship that season) and £131m for #AFCB. Revenue will be lower in 2019/20, due to smaller TV money (lower league place) and COVID-19 impact.
Read 19 tweets
As the 2019/20 Premier League season finally comes to a close, I thought that it might be interesting to look at the impact of climbing or dropping places in the league table. There might be more for teams to play for than people might think.
As a reminder, in 2018/19 each club received equal shares for 50% of domestic TV £34m, overseas TV £43m and commercial income £5m. Each match broadcast live was worth £1.1m (on top of £12.2m for a minimum of 10 games), while each league position was worth £1.9m (merit payment).
However, the story has changed with the new 3-year deal for the 2019-22 cycle, as the numbers are different and there is a twist in the distribution methodology used for the overseas TV rights. This is important, as overseas is the area driving the growth in TV money.
Read 15 tweets
Earlier this week I posted a thread on the 2018/19 financials for the Big Six Premier League clubs. Today I am going to look at the numbers for the Other 14 clubs #AFCB #BHAFC #BurnleyFC #CardiffCity #CPFC #EFC #FFC #HTAFC #LCFC #NUFC #SaintsFC #WatfordFC #WHUFC #WWFC
Obviously, there will be a significant impact on these numbers in the 2019/20 season (and probably 2020/21 as well) as a result of the COVID-19 lockdown, which has resulted in clubs earning much less revenue for a few months, but how did it look before the pandemic struck? ImageImage
Other 14 Premier League clubs generated £2.2 bln of revenue, but £2.6 bln of expenses (including £1.5 bln wages and £0.6 bln player amortisation) meant £393m operating loss. This was improved by £241m profit on player sales, offset by £35m interest, giving £188m loss before tax. Image
Read 35 tweets
Now that all the Premier League clubs have published their 2018/19 financials, we can compare the results, but we will do this a little differently by separating the analysis into two parts, as the numbers are so different for: (1) the Big Six clubs; and (2) the Other 14 clubs.
Today’s thread will focus on the 2018/19 financial results for the Big Six Premier League clubs #AFC #CFC #LFC #MCFC #MUFC #THFC. Clearly, there will be a significant impact on these numbers in 2019/20 following the COVID-19 lockdown, but how did it look before the pandemic?
Big 6 Premier League clubs generated £3.0 bln of revenue, but £3.1 bln of expenses (including £1.7 bln wages and £0.7 bln player amortisation) meant a £97m operating loss. This was improved by £193m profit on player sales, offset by £23m interest, giving £33m profit before tax.
Read 36 tweets
I’ve prepared a few more of the financial fact sheets for selected football clubs. To be clear, this is not new information as such, but just a more succinct presentation of previous data. This thread covers #AVFC, #AFCB, #CardiffCity, #HTAFC, #NCFC, #SUFC, #WatfordFC and #WWFC.
#AVFC posted huge £69m net loss. Operating loss even higher at £115m, including £46m promotion payments, but £14m HS2 compensation. Offset by £36m stadium sale and £11m player sales. Revenue fall due to lower parachute payments. Debt-free after write-offs and equity conversion.
#AFCB lost money 2 years in a row, as revenue has fallen from £136m to £131m, while wage bill has grown from £72m to £111m. Little benefit from low player sales. Debt up to £100m, 9th highest in PL. Spent £150m on player purchases in last 2 years with transfer debt up to £81m.
Read 10 tweets
EXCLUSIVE: My interview with Pape Gueye’s lawyer for @sofoot

• It was NOT Gueye’s choice to join Watford - it was his former agent’s desire

• Player is willing to look at playing elsewhere, regardless of Watford’s stance

sofoot.com/pape-gueye-n-a…

#WatfordFC
• His lawyer suggests the contract w/Watford is not valid as their discussions with his former agent began BEFORE 1st Jan

• Gueye may have signed contracts with 3 other clubs

• The player is ‘confused’ and unhappy with terms in his Watford contract
Full version in English on my website:

freddiepaxton.weebly.com/blog/pape-guey…
Read 3 tweets
From 🇬🇧 || In a twist of events, Watford FC have announced the signing of Le Havre CM and Arsenal target, Pape Gueye, for next season (1/2).
Watford claim they've lodged the signing with "all relevant authorities" and Gueye signed a Pre-Agreement despite eight sites who report on contract lengths, including Transfermarkt who are usually quite reliable for such, stating his contract doesn't end until 2021 (2/2).
Update || It appears that in the last 24hrs, @TMuk_news have changed Pape Gueye's contract end date, from 2021, to 2020.
Read 22 tweets
For Hornet Heaven listeners, what follows is the Twitter equivalent of a colouring-in book.

We outline a few events. You imagine them…

THREAD
1/8

#watfordfc
Here we go...

Today, up in Hornet Heaven, Derek, Bill and Henry are ecstatic after yesterday's #watfordfc win over Liverpool.

Derek wishes the team had played like that in last year’s Cup Final.

2/8
Roy from IT has the idea of creating a mash-up of match footage, somehow inserting yesterday’s #watfordfc performance into last year’s final against City.

3/8
Read 9 tweets
Today’s win...a thread.
Ben Foster - had little to do but what he did do, he did well. Kaba and Cathcart, solid and composed - allowed their front three zero space. Kiko - 😍 so good to have him back. Looked like he’d never been away....#WatfordFC
Masina - been a revelation of late. Handled Salah with ease. Will Hughes - showed how much we missed him when he was injured. That role alongside Caps is made for him. Caps - dominated them from 1-90....#WatfordFC
Doucs - the energy and quality he has 🔥 pushing him forward to support the front three was a stroke of genius. Sarr - OMFG - WHAT A PLAYER 🔥🌟. Troy - led the line and worked his b*llocks off. Great finish...#WatfordFC
Read 5 tweets
Watford’s 2018/19 financial results covered a season that the club understandably described as “successful”, improving their position in the Premier League from 14th to 11th and reaching the FA Cup Final (beaten by #MCFC). Some thoughts in the following thread #WatfordFC
#WatfordFC made a £9.8m profit before tax, compared to a £31m loss in the prior year, as revenue rose £19m (15%) to a record £148m, and profit on player sales increased from £3m to £22m. Also boosted by a £4.5m settlement following Marco Silva’s acrimonious move to #EFC.
#WatfordFC £19m revenue growth was mainly due to a £15m (14%) increase in broadcasting to £124m, thanks to the higher Premier League finishing position and FA Cup run, while there were also rises in commercial, up £3m (28%) to £13.6m, and match day, up £1.3m (16%) to £9.2m.
Read 39 tweets
A short #watfordfc Hornet Heaven scene from after the Arsenal game yesterday….

THREAD
(1/10)
Henry Grover — the man who founded Watford Rovers in 1881 — had a frown on his face.

Bill Mainwood, Hornet Heaven’s Head of Programmes, asked him: ‘What’s puzzling you, Henry?’

(2/10)
‘Er… it is September 2019, isn’t it, Bill?’

‘Yes, it is, Henry.’

‘In that case, I think the ancient turnstile’s playing up,’ Henry said.

‘Really? Why?’ Bill asked.

(3/10)
Read 11 tweets
A previous thread explained the differences between a football club’s profit and loss account and its cash flow statement, as it is important to understand where the money has been spent. This thread will look at how this works for each of the 20 Premier League clubs in 2017/18.
#AFC went from £52m operating profit to £42m operating loss, due to lower revenue after failing to qualify for the Champions League, compounded by higher wages and player amortisation plus Wenger pay-off. However, £120m profit on player sales resulted in £70m profit before tax.
#AFC cash flow boosted by favourable £58m movement in working capital (increase in creditors). Spent £29m (net) on players (purchases £110m, sales £81m). Paid £20m for Emirates loan (£11m interest & £9m debt) plus £12m tax. Net cash inflow of £51m was highest in Premier League.
Read 42 tweets
One of the questions most frequently asked by football fans is “Where’s all the money gone?” The answer is only partly found in a club’s profit and loss account, so we need to also look at the cash flow statement to get the full picture. Some thoughts in the following thread.
A club’s profit and loss account is easy to understand, as it is basically revenue less expenses (mainly player wages), but this is an accounting profit based on the accruals concept, which can be very different from actual cash movements.
This is important, as the main reason that football clubs fail is cash flow problems. It does not matter how large your revenue is (or your profits are), if you do not have the cash to pay your players, suppliers or indeed the taxman, then you will find yourself in trouble.
Read 39 tweets
In preparation for the upcoming 2018/19 Premier League season, I thought that it might be interesting to look at the transfer spend over the last decade, including the growing impact on debt. The analysis is split between 3 periods: last 3 years, last 5 years and last 10 years.
The transfer fees spend is taken from the clubs’ cash flow statements, as this is the only completely accurate source of data. However, it is worth noting that this does not always represent the full cost of transfers, due to the (increasing) use of stage payments.
In the very few cases where a cash flow statement was not available, e.g. if a club only published abbreviated accounts while they were in lower leagues, I have taken data for those years from the Transfermarkt website.
Read 24 tweets
The Premier League has published its TV revenue for the 2018/19 season, ranging from £97m for #HTAFC to £152m for #LFC, who earned more than league winners #MCFC £151m, due to more matches broadcast live. Some thoughts in the following thread.
Each club receives equal shares for 50% of domestic TV £34.4m, overseas TV £43.2m and commercial income £5.0m. Each league position is worth £1.9m (merit payment), while each match broadcast live is worth £1.1m (on top of £12.2m for a minimum of 10 games).
#LFC Premier League TV money increased by £6.5m from £145.9m to £152.4m in 2018/19, due to a £3.6m higher merit payment (for finishing 2nd, compared to 4th the previous season) and £2.4m more from overseas TV deals. Benefited from most live TV games: 29 vs. #MCFC 26.
Read 14 tweets
Having a pint across the street from Vicarage Road, now is perhaps a good time to tweet-storm about how a kid born in Hong Kong and raised in Canada came to support #WatfordFC
So. Grade 10. A new kid started at my high school who just moved to Canada from England. From Hertfordshire, to be specific.
We shared similar interests. He got into my friend group. And I was just getting back into (association) football after not really having much access to it after the move to Canada.
Read 15 tweets
Liverpool’s 2017/18 financial results covered a season when they finished 4th in the Premier League and returned to European competition with a bang by reaching the Champions League final, where they were defeated by Real Madrid. Some thoughts in the following thread #LFC
#LFC profit before tax increased from £40m to £125m, as profit on player sales surged £86m to £124m and the impressive Champions League run helped drive revenue up £91m (25%) to a record £455m. Profit after tax improved from £39m to £106m.
All three #LFC revenue streams increased: broadcasting was a substantial £66m (43%) higher at £220m, due to Champions League participation; match day climbed £7m (10%) to £81m, while commercial rose £18m (13%) to £154m, also largely linked to European success.
Read 47 tweets
Following my recent analyses of where Premier League and Championship clubs source their money and what they spend it on, I received many questions on how a cash flow statement works, so I will explain the mechanics (using Premier League season 2016/17) in the following thread.
Traditionally, supporters have focused on a club’s profit and loss account, which is not surprising, because: (a) that is what the media tend to report; (b) it is intuitively easy to understand, being basically revenue less expenses (mainly player wages).
Nevertheless, the reported figure is an accounting profit, which is not necessarily a “real” cash profit, as it is based on the accountant’s accruals concept and this can be very different from actual cash movements.
Read 43 tweets
THREAD: 🏴 #PremierLeague strength of schedule breakdown 📊

We rank each side on how many points they can expect to pick up from the next six games using our xG model 👇
1. #ManCity – 14.3 xPoints
City will face sides with an average position of just above midtable over the next six games, looking at average of 2.38 xPoints per game.

#MCFC @City_Watch @City_Chief @SuperbiaProeIia @PicturedCity @City_Xtra @9320pod 👇
2. #LFC – 13.2 xPoints
Liverpool look set to continue their good start to the season. Despite facing #MUFC, we make the Reds’ trip to #WatfordFC their hardest fixture.

@AnfieldEdition @AnfieldHQ @TheRedmenTV @LFCData @anfieldonline @BassTunedToRed 👇
Read 21 tweets

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