UK time is: 20:29:27
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Club: 'No cash crisis'

In a lengthy statement on the club's official website - www.watfordfc.com - it has been confirmed that admidst growing rumours of financial troubles, the club is NOT heading towards administration.

The following are key points addressed in the statement:

- The club is not in any sort of 'financial crisis' nor are they heading towards administration.

- Recent player sales are to reduce a 'Premiership size wagebill'.

- The hotly disputed 'ring-fenced' money for the East Stand has been spent on redevelopment on the Rookery and Rous Stands. However, plans for the currently closed East Stand are only on standby.

- The club has recently paid off, in full a 'short term borrowing facility'.

- In the last week, a large chunk of this seasons, final, parachute payment has been recieved from the Premier League.

- Chairman Graham Simpson is still owed 600k by way of a loan to the club.

- Work on the South West Corner of the ground continues, despite delays.

Good news then really - just a shame about the communication breakdown between club-local rag-supporters!




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!




Join the FREE Telegraph Championship Fantasy Football League!

Click here to join in the debate on the club forum.

The Journalist

Writer: wfc123 Mail feedback, articles or suggestions

Date:Thursday August 7 2008

Time: 7:15PM

Your Comments (oldest first)

Change to most recent first
Great, now can we get a striker ?
jackwebby
Report Abuse
07/08/2008 22:52:00

I don't think this changes anything, except - as suspected - the WO were wide of the mark yet again with it's "facing administration" jibe. We are still short of cash for investment in the team and stadium and will remain as such until additional investment is obtained or a takeover happens. Sorry to keep banging on about it, but that's the bottom line. In the meantime we should lower our expectations for this coming season and support what we've got. Come On You Golden Boys!
RFB-gloryhornetboys
Report Abuse
07/08/2008 23:07:00

I am going to give my full support to the team I love... I'm going to judge the team on the pitch... As long as the big nobs off do what's best long term for the club I will support them too...
watford1881
Report Abuse
08/08/2008 01:06:00

It is funny that this statement is issued now, when henderson, *Shittu, and others have left the club!!! would they be saying the same if they had not left, oh and poor Simpson is still owed 600K, They still have not accounted where the majority of the money has gone! and i don't think they will. We have a team thats lacks a forward line and no strength in depth! I will always back my team, i just do not trust the board of directors!
ANDY710
Report Abuse
08/08/2008 09:57:00

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Watford Articles

Last Gasp Winner Sinks Watford (Saturday March 21 2015)

Stats: Watford v Ipswich Town (Saturday March 21 2015)

PREVIEW: Watford v Ipswich (Saturday March 21 2015)

Man In The Middle: Andy D'Urso (Thursday March 19 2015)

Done Deal: Hornets Snap Up Connolly (Thursday March 19 2015)

Deeney Double Sends Watford Top (Tuesday March 17 2015)

Stats: Wigan Athletic v Watford (Tuesday March 17 2015)

PREVIEW: Wigan v Watford (Tuesday March 17 2015)

Man In The Middle: David Coote (Monday March 16 2015)

Watford Put Four Past Reading (Saturday March 14 2015)

Archived Watford Articles

List All Vital Watford Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Publishing Entire League Network of Sites

Vital Members League (view all)

League Table (view table)

Team P W D L GD Pts
1. Bournemouth 39 21 10 8 +42 73
2. Watford 39 22 6 11 +32 72
3. Middlesbrough 39 21 9 9 +29 72
4. Norwich 39 20 10 9 +33 70
5. Derby County 39 19 10 10 +26 67
6. Ipswich 39 19 10 10 +16 67
7. Brentford 39 20 6 13 +12 66

Breaking League News

Wednesday Striker Madine Wants Deal At Blackpool
Sheff Wed : 29/03/2015 19:54:00
LUFC Mowatt makes England debut in win over USA
Leeds Utd : 29/03/2015 19:14:00
Has International Break Come Too Soon?
Ipswich : 29/03/2015 18:34:00
Vital poll result: Pearce future?
Reading : 29/03/2015 17:00:01
Boycey Inspires Barbados To World Cup Win
Wigan : 29/03/2015 15:26:00

Current Site Poll (view all polls)

Who can hit a ball harder, Richard Johnson or Daniel Tozser?
Suggested By:  Editor
Johnno 62%
Tozser 38%