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Watford made a £4million profit according to club accounts for 2016-17 – but they may have to sell Abdoulaye Doucoure or Richarlison to stay in the black.

The Hornets' finances were boosted by the £20m sale of striker Odion Ighalo to Chinese club Changchun Yatai and 88 per cent of their revenue now comes from TV income.

With owner Gino Pozzo's business model based on discovering rough diamonds and selling them on for huge profit, it looks inevitable that Watford will cash in on £6m bargain Doucoure this summer – with Liverpool, Arsenal and Tottenham all monitoring the £40m-rated midfielder.

But Watford's healthy finances will confound critics who believe the high turnover of head coaches at Vicarage Road would be a drain on their resources.

(Image: Action Images via Reuters) (Image: Getty)

Marco Silva became the ninth manager to leave the Hornets in six years when he was sacked in January. Watford paid around £1.1m to release Silva's predecessor Walter Mazzarri and his backroom staff last year.

Although the Hornets' wage bill climbed 31 per cent to £76m, the club's wages to turnover ratio – a primary indication of solvency – remained steady at 61 per cent.

In his report, executive chairman Scott Duxbury said: “As in the previous year, the financial performance of the club is reflective of its progression in the Premier League.

“Turnover continues to grow significantly, as do the increased running costs associated with running a successful business within the Premier League.”