Vital Football

Latest Watford FC News

Russo's lend Watford ANOTHER £1m

Russo's lend Watford ANOTHER £1m

Watford's dire financial situation looks to have finally reached breaking point today with Jimmy Russo lending Watford another £1m to cover costs until December 22nd.

After already bailing the Hornet's out on three seperate occasions with loans totalling £3.85m through the Russo's own Valley Grown Salads company and Jimmy Russo's own personal fortune.

A statement from Watford Leisure PLC can be found at Watford Observer Website

The gist of statement is that the Hornet's need to find further investment, and damn quick, else trading on shares will be suspended, whilst 'clarity' is sought with regards to the situation. Administration could well follow.

Furthermore it has been confirmed that at present, talks seeking further investment have been unsuccessful. IE. Michael Ashcroft has failed to put his hand in his pocket, again. Or words to that effect.

Watford now still need to find another £5.5million to cover the shortfall by June 2010. All we can suggest is that the Hornet's faithful start looking down the back of their sofa's for any loose change...

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
www.papajohns.co.uk/football



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

Writer:wfc123
Date:Monday November 30 2009
Time: 2:19PM

Best of Vital Network

Vital Boxing - Khan Ready for Alvarez

Comments

0
The weirdest thing is that the Daily Mail reckon ADMINISTRATION would hamper the Hornets 'play off aspirations'...!!!!!! Let's get things straight if we go into administration we will be relegated and the hard work done by the boys so far will be wasted.
DrWatford
30/11/2009 14:33:00
0
Bloody hell. Well done Simpson and co for this mess!! Oh well guess we'll be saying bye bye to a number of our better players. Also I think if you go into Admin all loan players return to their parent clubs. That will leave us WELL short.
goatswilly
30/11/2009 14:37:00
0
This a very serious situation indeed; it could be a genuine plea for any existing shareholders or potential partners to come forward and help, however unless they are true fans with stacks of cash - eg Sir Elton - they may decide to wait as the cheapest way to buy a football club is from the administrator. Another possibility is the the Salad Bros are positioning themselves to delist the club from the AIM and could then - as the major creditors- emerge as the outright owners with the shares of the old company deemed worthless. In the meantime we are totally powerless and just have to get on with it and amass as many points as we possibly can and wait for the off-field game to be played out.
RFB-gloryhornetboys
30/11/2009 16:15:00
0
I understand what you are saying RFB but i think that the R's would have to aquire a majority shareholding (96%) of the shares before they could delist. The club is in dire needs, if the club do go in to administration, Simpson and Ashton better hide or disapear for good.
ANDY710
30/11/2009 17:28:00
0
One other thing, If the tickets for the Elton John Concert are selling well, why can't the money being generated from that be used to keep the club going? I know EJ wants the money to be used to buy players, but if the club goes bust, then we are not gonna need to worry about signing anyone.
ANDY710
30/11/2009 17:33:00
0
We've got to sell the likes of Loach, Mariappa, DeMerit, Jenkins, Cowie and Graham, better to go down with a bunch of 17 year olds than go bust with an experienced team.
wfc123
30/11/2009 22:29:00
0
I'm sure Elton would be consulted before we went into admin, although I'd think the money on it's own would be insufficient and would just be used to pay off creditors.....I also think the money may be ring-fenced until the concert actually takes place.. We'll just have to wait and see what happens... What's interesting now is that the Salad Bros have gone public before a January sell-off, unlike summer, so perhaps that is not their plan. Maybe I'm clutching at straws and I hope they're aren't! Come on you Golden Boys.
RFB-gloryhornetboys
01/12/2009 17:45:00
0
The timming of this report just doesn't make sense, I think we all knew that some players were gonna be sold in jan.. but by making this statement does it not give other clubs the chance to come in and offer silly amounts of money for our players and thus losing them on the cheap? The R's have proved that they are not stupid, one wonders if they are trying to force the hand of others? Time will tell, i guess.
ANDY710
02/12/2009 08:28:00
0
The more and more we keep borrowing the more we will have to pay back. there are interest fees and i believe the only option is to let scott loach go in january and get a fair amount of money for him
leeimp95
02/12/2009 12:33:00
0
Interesting article http://fourfourtwo.com/blogs/upthefootballleaguewego/archive/2009/12/02/what-s-gone-wrong-at-watford.aspx
ANDY710
02/12/2009 15:36:00
Page 1/2
  1. 1
  2. 2

Login to post a comment

Recent Watford Articles

The Watford FC Walking Wounded - Injury List

Our weekly update looking at the injury table for Watford FC and also comparing with all our competitors in the Premier League.

Match Day Officials v Liverpool (8/5/16)

The Premier League have now announced the Match Day officials that will take charge of the game against Liverpool this weekend.

Watford Beat Milan + PSG To Striker?

It's being reported that Watford have stolen a march on Atletico Madrid, Inter Milan and Paris Saint-Germain in the hunt for young Nigerian striker...

Arsenal And Manchester United Ighalo Talk Returns

Despite managing just three-goals since the turn of the year Ighalo continues to be linked with Premier League rivals, most strongly Arsenal and Manchester United.

Archived Vital Watford Articles

Vital Watford articles from

Site Journalists

Harry Welch
Editor email
Profile
KDCallanan
no email
Profile
chrisgwfc
no email
Profile
Colin Cowan
no email
Profile
Alex Moore
no email
Profile

Current Poll (see more polls)

Villa MotM
Suggested By: Site Staff
Gomes6%
Paredes0%
Cathcart1%
Britos0%
Anya3%
Abdi0%
Suarez0%
Watson0%
Jurado1%
Deeney29%
Ighalo0%
Sub - Berghuis59%
Sub - Amrabat1%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
C Leicester City 36 22 11 3 77 30
2 Spurs 36 19 13 4 70 39
3 Arsenal 36 19 10 7 67 25
4 Man City 36 19 7 10 64 30
5 Man Utd 35 17 9 9 60 12
6 West Ham 35 15 14 6 59 17
7 Southampton 36 16 9 11 57 14
8 Liverpool 35 15 10 10 55 11
9 Chelsea 35 12 12 11 48 7
10 Stoke 36 13 9 14 48 -14
11 Everton 35 10 14 11 44 6
12 Watford 35 12 8 15 44 -6
13 Swansea 36 11 10 15 43 -13
14 WBA 36 10 11 15 41 -14
15 AFC Bournemouth 36 11 8 17 41 -20
16 Crystal Palace 36 10 9 17 39 -10
17 Newcastle 36 8 9 19 33 -25
18 Sunderland 35 7 11 17 32 -18
19 Norwich 35 8 7 20 31 -26
R Aston Villa 36 3 7 26 16 -45
Latest F1 News
Latest Vital Boxing News

Recent Watford Results (view all)

Watford Fixtures (view all)

May 8 2016 4:00PM : Liverpool (a)
Barclays Premier League
May 11 2016 7:45PM : Norwich City (a)
Barclays Premier League
May 15 2016 3:00PM : Sunderland (H)
Barclays Premier League