Watford News 24/7Writer: wfc123 
Date:Friday December 18 2009
Time: 12:10AM
UK time is: 18:54:22
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Jimmy Russo speaks
Ex-Chairman Jimmy Russo has broken his silence about why he will be putting the club into administration first thing tomorrow morning.
The Chelsea fan and Salad Boy spoke to Sky Sports News earlier this evening and had this to say:
'I don't want to put the club into administration, I want to sit round the table and find a sensible situation. It is not the priority to put them into administration, it is not what I want,' Russo told Sky Sports News.
'The offer that was placed to me is wholly unacceptable.
'It was a ridiculous offer that would have meant me having to produce another £2.25million to get back my original 30 per cent holding back. So I get my £4.8million but I would need to produce another £2.3million.
'But what they haven't told you is that I wouldn't get a place on the board - so in essence I produce the money but I would have no say in how the club would be run.
'If we want to have an amiable situation, let's sit around the table. The club is the heart of the Watford community and I can't become a bad guy over night - my contribution has been massive, I became concerned about the treatment we have received and we have been treated poorly.
'I don't want to put them into administration. I want the other party to come to the table to agree a way forward that benefits everyone.'
A man quite clearly motivated soley by money, a man who for the last six or seven months has been telling his how he'll give his all to help the club back onto it's feet and so on and so on.
That he is concerned about paying £2.3m more for shares shows his priorities lie with his own fortune and not with the club's well-being. You have to wonder why he ever bothered becoming chairman.
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Your Comments
It is not beyond realms that a deal can still be reached, although i can not see either the Russos or Smpson ever being able to watch a game again, for their own safety what ever happens, they need to know that they can not ***** on us fans and get away with it.
The fact the Elton John money is not ring fenced means it could be used as a part payment to the R's and a mortgage taken out on the ground to cover the shortfull, it has been done before, pay these off and then seek alternative funding ie Ashcrofts share issue
ANDY710
Looking at it another way, he doesn't get his money back & has to pay more for the same stake, but loses all control. Most businessmen would take that stance!
Our Kids Dad
PS - Not that I'm saying it's right, but as an impartial observer, I'd say, he is trying to get teh club on the cheap....possibly!
Our Kids Dad
This is complete nonsense from Russ. He's losing nothing and doesn't have to subscribe to the share issue if he doesn't want to. Yes it would dilute his percentage of the club shares but at least they'd have a value as they'd be almost worthless in Administration. Do not trust anything this guy says.
RFB-gloryhornetboys
I don't think any of them are going to gain in credibilty what ever happens now, lets face it, they are only in it for what they an get out of it, Can any of them be trusted?
ANDY710
Have just listened to GT on sky news, says that he has been talking to the R's and yet last night Jimmy was denying any conversation had taken place,.
ANDY710
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