Watford FC

[Weston Saint]

Shares suspended on the Stock Exchange this morning.

 

Administration likely?

[Scummer]

Yes, and then when the administrators call in their debts Pompey may follow.....

[stevegrant]

Very much so.

 

They issued a LSE statement a month or so ago saying that their chairman (who resigned prior to their AGM last night) loaned the club another £1m, and that they needed to find another £5.5m in order to get through the season.

 

When Russo resigned last night (along with his brother), they also recalled their loans, which total £4.88m. Therefore, they need to find more than £10m this season.

 

It's quite baffling considering their biggest shareholder is Lord Ashcroft, who I think is the 36th richest man in the UK

[krissyboy31]

Graham Taylor taken over as Interim Chairman to try and stave off Administration.

 

http://www.skysports.com/story/0,19528,11688_5777832,00.html

[krissyboy31]

Now SSN reporting Russo has rejected the Ashcroft/Taylor plan and looks like they ARE going into Administration.

[Colinjb]

Now SSN reporting Russo has rejected the Ashcroft/Taylor plan and looks like they ARE going into Administration.

 

A great, great shame, I feel for them. Hope they pull through.

[Arizona]

Good luck to them. I'm sure we all feel their pain.

[krissyboy31]

http://www.skysports.com/story/0,19528,11688_5778155,00.html

[Fan The Flames]

My first take on it sounds like some shenanigans going on by the Russo brothers.

[St Landrew]

Really painful. Yet Watford directors have the ability to solve their problems quite quickly. This guy could write a cheque and stop the suffering, without breaking a sweat. I'm actually quite surprised he can just stand by and do nothing.

 

[benjii]

TBF I think he might have gone mental.

[Deppo]

It's a bit outdated to call it a mental illness. We're not still in the dark ages, you know!

[Verbal]

It's quite baffling considering their biggest shareholder is Lord Ashcroft, who I think is the 36th richest man in the UK

 

Not really. If you replace the names of those on the board at Watford with 'Wilde', 'Crouch' and 'Lowe', you'll get a sense of what's happening - just another tiresome example of ego rage.

[Thedelldays]

saved by Lord Ashcroft

 

http://news.bbc.co.uk/sport1/hi/football/teams/w/watford/8418667.stm

[Saint_Jonny]

saved by Lord Ashcroft

 

http://news.bbc.co.uk/sport1/hi/football/teams/w/watford/8418667.stm

 

 

Good, im very pleased for them! Made my stomach churn reading this thread but it had a happy ending!