Chairman explains watfordfc have not taken out a new loan
Concerns that Watford had taken out another loan when paperwork connected with Macquarie Bank surfaced online should be allayed after chairman Scott Duxbury explained this was a process called a ‘sales discount’.“It relates to the sale of a player: we agreed a total fee payable in three instalments: for example €2m now, €2m next year and €2m the year after. Like most clubs, ideally we wanted all the money right now.
“And interest is only charged on the amounts you ‘discount’, so from the example I gave the €2m received up front isn’t liable for interest. “They agreed, they got their money in one lump up front. We have done transfers in both directions, in and out, where we’ve used discounting.”
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