The Hornets let go of some expensive "talent" last week with the departure of Nathan Ellington, Liam Henderson, and Mat Sadler - on loan to Preston North End, Rotherham United, and Shrewsbury Town respectively.
Ellington, who cost Watford a club record £3.25 million transfer fee, and Henderson scored only 5 goals between them in 69 appearances.
Sadler put in 30 appearances for the club and played an adequate role as a defender.
The club collects no transfer revenue, but is expected to trim £1 million from the payroll.
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