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Ashcroft Dips Into Pocket, Again

Ashcroft Dips Into Pocket, Again

It emerged on Wednesday that Lord Michael Ashcroft`s FordWat company have handed the Hornet`s another £1m loan.

The loan is once again secured against the club`s Vicarage Road Stadium, and the accumulated balance owed now is £5.99m.

Interest on the `Further loan` has been set at 4.5% above the base rate of Barclays Bank PLC.

In a statement from Watford Leisure PLC it was also confirmed that the share issue is still being 'refined` and that a 'statement will be made in due course`.

More debt - just what we wanted to hear…

FULL statement, click here

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

Writer:wfc123
Date:Friday March 26 2010
Time: 11:09PM

Comments

0
At least he ain't letting us rot....
watford1881
29/03/2010 17:13:00
0
He`s providing funds that we cannot obtain elsewhere. I see some morons on Wobby site compare him unfavourably to Jack Petchey-despite him doing the complete opposite. There should be a shoot on sight cull of Wobby posters IMHO.
Dirk Thrust
29/03/2010 17:16:00
0
Haha. Yeah I was reading some of their comments too. Never, ever have anything positive to say. Jack Petchey was before my time, but at least Ashcroft is doing something in spite of the fact he clearly doesn't want to.
wfc123
29/03/2010 19:26:00
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