Chairman Graham Taylor has warned that Watford will have to sell more players in the summer to boost the coffers at Vicarage Road.
The Hornets have released their latest financial figures showing a six-month pre-tax loss of £172,000 in 2009, despite offloading a host of star players such as Mike Williamson, Tommy Smith, Tamas Priskin, Theo Robinson and Jobi McAnuff.
And Taylor has now revealed that, in order to balance the books, more top players could depart at the end of the season.
"It is most likely the club will continue to trade players in order to reduce our potential operating losses," he said.