Watford FC have announced losses of £21.7 in their accounts for the period between July 1, 2020, and June 30, 2021, according to the Watford Observer.
Despite the alarming figure, the sum is actually an improvement from the previous year when losses were reported at £35.6m as the club felt the compounding impact of Covid-19 and relegation in the same 12-month spell.
Overall club income plummeted by over 50% but was likely expected, as games played behind closed doors were not accounted for in the financial intake by the club. Relegation at the end of the 2019/20 season, following a final-day defeat to Arsenal also saw broadcast revenue almost half for The Hornets.
Furthermore, the blow of these financial losses were alleviated by a number of high-profile departures, with Gerard Deulofeu, Abdoulaye Doucoure, Roberto Pereyra, Pervis Estipinan, and Luis Suarez, amongst others, saw incomings of around £56m in transfer fees, whilst relegation clauses and other departures such as Etienne Capoue helped to reduce the wage bill.
Watford currently sit 18th in the Premier League table and look destined for a second consecutive drop down to the second tier, which could lead to more of the same regarding out-goings in the near future.
Ismaila Sarr who joined Watford for a club-record fee of around £30m in 2019, will likely be a marquee name at the top of many teams’ summer transfer target lists.
Newcastle appear to be eyeing a double swoop for Sarr, along with Brighton’s highly rated shot-stopper Robert Sanchez, according to the Sun, whilst Liverpool will likely have Sarr shortlisted as a replacement for Mo Salah, should the contract discussions continue to remain at somewhat of a stalemate, creating uncertainly in the Anfield camp.
Watford will likely seek to recoup most of the £30-35m spent on Ismaila Sarr, but the final figure will remain to be seen as uncertainty of Watford’s league status next season looms large.