Vital Football

Latest Watford FC News

£5m by 5pm today or else...

£5m by 5pm today or else...

Watford Leisure PLC have today issued the most damning statment yet confirming that if £5m isn't found for the Russo's by the close of trading today, they could have place the company in administration.

Following the resignation of the aforementioned directors, the Board received a written demand from Valley Grown Salads for the repayment of its £4.88m of loans (made to the Company) on or before close of business on 16 December 2009.

"The Board continues to consider indicative proposals from both Valley Grown Salads and Fordwat Limited. However, pending resolution and clarification of its financial position the Company has requested that its shares be suspended from trading on AIM. In the event that a funding solution cannot be obtained then the Company may have to be placed in administration. A further announcement will be made in due course."


Hopefully we can use the snow as some sort of 'delay' ploy...



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

Writer:wfc123
Date:Wednesday December 16 2009
Time: 11:40AM

Comments

0
Hope it all gets resolved amicably, it would be a real shame if you went into Administration...the damage that would cause.....
Our Kids Dad
16/12/2009 13:20:00
0
I'm *****ting it.. Our club is crumbling before our eyes... Where's EJ now.. If I was a multi millionaire who loves my club I would lend to keep us afloat.. Interest free.. Although I would want to know that the finances are transparent and upfront and everyone know where the money is and how it's being spent.. Lord Ashcroft is a pr*ck. he would sell for his money back surely.. Let's hope that EJ loves the club as much as he sayes and he just doen't love Watford because it looks good on his CV to be "from the people".. Please please help EJ....
watford1881
16/12/2009 15:56:00
0
I've got my fingers crossed for you. As a Pompey fan I know how ***** all of this news is… I don't think we're far away from going into administration either.
stillthewhizz
16/12/2009 15:57:00
0
Problem is Ashcroft will not get his money back; he purchased his shares via the 2006 Rights issue fronted by Simpson and the share price was around 20p then. By my reckoning he stands to be down around £5M at the suspended share price and I doubt whether the Salad Bros have even offered that much. Would love to know the contents of the 2 proposals under consideration. I wonder if the Ashcroft one involves the complete redevelopment of Vic and us moving to be tenants elsewhere?
RFB-gloryhornetboys
16/12/2009 16:48:00
0
Interesting thoughts RFB and could well be on the cards, but the fact they are now talking suggests a glimmer of hope, we wait and see.
ANDY710
17/12/2009 09:41:00
Page 1/1
  1. 1

Login to post a comment

Recent Watford Articles

Riley Explains Postponements

It doesn't happen often in the Premier League or Championship thesedays, but League's 1 & 2 still suffer the odd postponement owing to the weather and Mike Riley...

Millwall Set - Arsenal Stays

Ahead of the weekend's action against Middlesbrough, Watford confirmed the details of the FA Cup fourth round tie against Millwall.

Vital View - Premier League, 14th-15th Jan 2017

Chelsea returned to winning ways to open up a seven point lead at the top of the Premier League with Tottenham up to 2nd. Swansea are bottom, below Sunderland and Hull - who did win.

Stats: Watford v Middlesbrough

All the stats from Watford (0) vs (0) Middlesbrough, Vicarage Road, 14/1/17 Att: 20,659

Archived Vital Watford Articles

Vital Watford articles from

Site Journalists

Write for Vital Watford
Write For Vital Watford
Apply Here

Current Poll (see more polls)

Middlesbrough MotM
Suggested By: Site Staff
Gomes2%
Kaboul0%
Prodl0%
Britos0%
Kabasele16%
Capoue0%
Behrami33%
Holebas0%
Doucoure16%
Deeney0%
Okaka33%
Sub - Pantilimon0%
Sub - Cleverley0%
Sub - Zuniga0%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
1 Chelsea 21 17 1 3 52 30
2 Spurs 21 13 6 2 45 29
3 Liverpool 21 13 6 2 45 25
4 Arsenal 21 13 5 3 44 26
5 Man City 21 13 3 5 42 15
6 Man Utd 21 11 7 3 40 12
7 Everton 21 9 6 6 33 9
8 WBA 21 8 5 8 29 0
9 Stoke 21 7 6 8 27 -6
10 Burnley 21 8 2 11 26 -8
11 AFC Bournemouth 21 7 4 10 25 -7
12 West Ham 21 7 4 10 25 -9
13 Southampton 21 6 6 9 24 -7
14 Watford 21 6 5 10 23 -13
15 Leicester City 21 5 6 10 21 -10
16 Middlesbrough 21 4 8 9 20 -5
17 Crystal Palace 21 4 4 13 16 -10
18 Hull City 21 4 4 13 16 -25
19 Sunderland 21 4 3 14 15 -20
20 Swansea 21 4 3 14 15 -26
The Vital Football Members League
Latest F1 News
Latest Vital Boxing News
Vital Football Comment

Recent Watford Results (view all)

Watford Fixtures (view all)

Jan 21 2017 3:00PM : AFC Bournemouth (a)
Barclays Premier League
Jan 29 2017 12:00PM : Millwall (a)
FA Cup
Jan 31 2017 7:45PM : Arsenal (a)
Barclays Premier League
Feb 4 2017 3:00PM : Burnley (H)
Barclays Premier League
Feb 11 2017 3:00PM : Manchester United (a)
Barclays Premier League
Feb 25 2017 5:30PM : West Ham United (H)
Barclays Premier League
Write for Vital Football