Thetownend.com

Watford's board pretty much resigned last night and shares have been suspended. Another club to hit the dust....

http://news.sky.com/skynews/Home/Business/Watford-Football-Club-Warns-It-May-Go-Into-Administration/Article/200912315501386?f=rss

good for fucking us over with robinson

I would've thought that Sir Elton would have had more than enough cash to spare to bail them out? 

Didnt he relinquish his position of lifetime president because he fell out witht the board?

meh, bothered.

My first thought aswell.

I doubt any Watford fans are in a panic. Elton John will come along, call them all silly boys then write them a big fat cheque in exchange for a peep hole in the shower room - his annual florist bill is more than it will cost him to bail them out.

But isn't his just a token role these days - he has nothing to do with the runnig of the club, that is Graham "Turnip" Taylor these days

And the fact he's as tight as fuck, he wont bail them out,

I bet he's not by now

You dirty boy...

as far as I remember it was Robinson that screwed us over not Watford?

...although giving us Moses Ashikodi on loan wasnt great!

I can't remember ever having been to Watford so I look forward to my visit next season.

Assuming we don't go up of course :)

They had apparently agreed a fee and promised not to sell him to anyone else. And then did, presumably the player pushed for it too.

I see that Russo wants his cash back quickly and has rejected the option of waiting a month while they do a rights issue.

There must be more to this though with him demanding his loan back, I suspect he wants full control of the club and will buy them back once they go into admin as he is likely to be biggest creditor

Rather the other way round - if he'd accepted the rights issue, it would have diluted his shareholding and given Ashcroft fuller control of the club without having to compensate the other shareholders. In fact it would have cost Russo brothers about half the money they're owed just to retain their existing shareholding. As I understand it, it's not about wanting money back quickly, it's about not wanting to be shafted by Ashcroft

He now says he'll suspend his legal action provided he can guarantee a meeting with Ashcroft.

Apparently Ashcroft will now pay Russo the £4.88m....

And go ahaed with the rights issue, so they obviosuly want to dilute Russo's shareholding to make him a minorty shareholder and give Ashcroft full control of the club

Quite sad really as a smashing club, with good fans! Hope they sort it

what the fuck are you doing on here?

Mex, I will hurt you for putting that picture up on here!  In answer, thought I would pop on here to have a look, I quickly left :)

Are you going to bite his ankles?

Thats exactly what I will do