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Watford - Buy now....pay later....helps meet FFP "We understand a number of signings from sister clubs Udinese and Granada joined Watford for minimal or no initial transfer fees but that sums will be paid depending on promotion, which the accounts appear to indicate. The accounts reveal...

"Watford's failure to make play-offs contribute to pre-tax loss of £344,000" http://www.watfordobserver.co.uk/sport/watfordfc/watfordfcnews/11627733._/