GT: 'Ashcroft has been open and honest'

Watford legend and all-round good guy Graham Taylor has spoken out following a meeting with majority shareholder, Lord Michael Ashcroft.

Tory MP Ashcroft, whose FordWat company have 37% stake in the Hornet`s will be underwriting a £7.5m right`s issue in the coming weeks or possibly months, dependent on how quickly "technical issues" surrounding the deal are resolved.

Interim chairman Taylor and chief exec Julian Winter met with Ashcroft at the end of the January to discuss the right`s issue proposal.

"I was able to ask him questions about what he was looking for and what he saw as his commitment to the club and what he saw for the future of the club and I was satisfied that the answers he gave me were truthful ones," Said GT of the meeting.

Taylor went on the praise the Conservative Party vice-chairman for his transparency since buying a stake in the club back in 2006 as the Hornet`s roared toward the Premier League before spiraling out of financial control.

"He has been very open and honest about how that happened. He has people running his portfolio and Watford were on the way up and the people that represent him thought this would be a good place to invest and it hasn`t turned out well for him. I think it is fair to say that and he has been open about that. He hasn`t tried to hide anything.

"All the stories you hear about him being in for this and in for that, I would say after the meeting with him, I was convinced he wasn`t and his people advising him saw Watford getting into the Premiership as an investment and it hasn`t worked out." Continued Taylor.

What these technical issues are remains a mystery to everyone but GT, Ashcroft and Winter, but the sooner they are ironed out and the wheels set in motion for the right`s issue the better, for now at least…

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