lets get a few 'facts' correct here
Watts is 21 (not 22)
He has had 4 years (not 5)
His first year shouldn't count as he was under-age and finishing school (unlike his contemporaries)
So 21 and effectively 3 years
carry on gentlemen
The AFL has said Visy-like arrangements are no longer Kosher
Probably wasn't either when done for Judd but as redleg says was probably a special accomodation for Carlscum at the time though AFL probably regrets it now