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Decreasing wages in midst of relegation battle

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Getty Images | In part by reaching the final of the FA Cup - and placing an emphasises on the importance of media and broadcast income for clubs outside the traditional "Big Six" - the club's turnover rose to £147.6 million from £128.8 million the year before.

Going against the trend, the Hornets' wages decreased by almost three per cent in the 2018/19 season, the club's just-released financial report has revealed.

In conjunction with their rising turnover, mainly due to increased TV income, Watford's wages-to-turnover ratio also fell to 57 per cent.

The club turned the previous year's loss into an almost £10 million profit.

Cash flow analysis show dependency on new loans.

10 February 2020 - 11:02 AM

By Emil Gjerding Nielson and Mads Christian Fogt Jensen, analyst

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