Championship club Watford have announced a £16.2m pre-tax loss for the 12 months ending on 30 June 2025.
The 2024-25 season was the club’s first without parachute payments following relegation from the Premier League in 2022 and the loss follows a £12.8m profit in the previous year.
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Watford’s annual turnover fell by £32m to £26m, but there was also a reduction in wage costs from £33m to £28.1m.
The report filed to Companies House said several “cost saving initiatives” and “efficiencies across the business” in a season in which the Hornets finished 14th under former head coach Tom Cleverley, 11 points outside the play-off places.
Watford did make a £15.8m profit on player recruitment and departures, down from £29.3m in 2023-24, with Colombia international Yaser Asprilla, striker Vakoun Bayo and Dutch defender Wesley Hoedt among those leaving for undisclosed fees.
A strategic report by chief executive Scott Duxbury said: “The club’s goal is to operate in a financially sustainable way and achieve the best results possible while in the championship, with the ultimate goal of getting promoted back to the Premier League.
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“The shareholders are committed to invest in the club to support the goal and realise this ambition.
“The club continues to enhance its value and performance on and off the pitch by investing in upgrades for both the stadium in order to increase capacities in both hospitality and general seating areas.”
Watford are still in with a chance of a play-off place this season under boss Ed Still, their third of the season, who was appointed following the departure of Javi Gracia in February.
They are in ninth place, seven points outside the top six, with seven matches to play, the next away to Queens Park Rangers on Friday 3 April.
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