Watford reply to supporters’ group claims over share sale offer

Thursday’s statement from The Trust said: “While some supporters may view this as a way to help the club meet its immediate financial needs, the Trust have questions about the nature of this appeal for investment and the wider implications as to our club’s financial stability.”

Watford, who posted a pre-tax profit of £24.1 million for the past financial year, have had nine different managers since August 2020.

“While the club showed a substantial pre-tax profit in 2022-23 which was driven by player sales, we have a number of significant questions about the rationale and timing for this appeal for cash injection,” the Trust’s statement, external added.

“We strongly encourage the club to provide more detail on its current financial status in 2023-24, what has prompted the share sale now and specifically how funds will be allocated against business needs.”

In response a club spokesperson said Watford “had discussions with potential investors to strengthen the club yet, for a variety of reasons, these talks have not yet materialised into concrete investment. The door is certainly not closed to these discussions, but the club felt there were other avenues to explore.”