Date:Monday October 9 2006
Watford chairman Graham Simpson has set the record straight over the schedule for the repayment of loans by the club to himself and directors Jimmy and Vince Russo.
There had been a theory doing the rounds that the loans which the chairman and the 'Salad Boys` gave the club when it was on the brink of administration from the fall-out of the ill-fated Vialli regime, were paid back to the trio upon Watford gaining promotion to the Premiership.
However, Simpson a lifelong Watford fan, quashed the speculation in an email to supporters on the club`s mailing list, saying that the repayment schedule of the loans remains unchanged despite Watford reaching the lucrative Premier League
"Many of you have presumed that the loans given to the club by myself and fellow directors Jimmy and Vince Russo were fully repaid upon promotion to the Premier League last spring," explained Simpson, who was instrumental in Watford gaining promotion by appointing Aidy Boothroyd as manager.
"I can assure you that this is not the case and that the repayment schedule for the loans remains unchanged - over the period of three years that was part of the original agreement.
"To have taken the money back in one payment would have hindered the club in it`s preparations for life in the Premier League and it was never our intention to do that."
The chairman gave his thoughts on the proposed £32million redevelopment of the Vicarage Road Stadium, adding: "We`ve got a Premier League team, we`ve got Premier League fans and soon we`ll have a Premier League stadium to house them all."
Last Gasp Winner Sinks Watford (Saturday March 21 2015)
Stats: Watford v Ipswich Town (Saturday March 21 2015)
PREVIEW: Watford v Ipswich (Saturday March 21 2015)
Man In The Middle: Andy D'Urso (Thursday March 19 2015)
Done Deal: Hornets Snap Up Connolly (Thursday March 19 2015)
Deeney Double Sends Watford Top (Tuesday March 17 2015)
Stats: Wigan Athletic v Watford (Tuesday March 17 2015)
PREVIEW: Wigan v Watford (Tuesday March 17 2015)
Man In The Middle: David Coote (Monday March 16 2015)
Watford Put Four Past Reading (Saturday March 14 2015)
|5. Derby County||39||19||10||10||+26||67|
|Former Midfielder Back At Ewood Park
» Blackburn : 01/04/2015 18:24:00
|Striker Fit For Liverpool Replay
» Blackburn : 01/04/2015 18:08:00
|West Ham Open To Defender Return
» Blackburn : 01/04/2015 17:56:00
|Are Those Automatic Places Beyond Us?
» Ipswich : 01/04/2015 17:09:00
|Personality clash sparked departure
» Middlesbrough : 01/04/2015 16:33:01