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Watford expected to release statement on future in the next couple of hours

12:08pm Thursday 17th December 2009 in WFC in Crisis Photograph of the Author By Frank Smith

Watford FC are expected to make a statement regarding their immediate future early this afternoon.

The Hornets would not confirm whether a comment will definitely be released but the Watford Observer understands a statement should be made by the club in the next few hours.

Former chairman Jimmy Russo, who resigned at the club’s parent company’s AGM on Tuesday, has demanded the £4.88m he loaned the club be returned with immediate effect.

A statement released yesterday morning stated Russo’s company Valley Grown Salads wanted its money “on or before close of business on 16 December 2009 (yesterday) but we reported last night that the deadline had been extended to early afternoon today.

Both VGS and Fordwat, the trading vehicle of major shareholder Lord Michael Ashcroft, have made proposals to Watford but if one of those is not accepted by this afternoon or another solution found, then the club run the risk of going into administration in the imminent future.

Click here to read last night’s article

Click here to read our detailed report from Tuesday night’s AGM

Comments(11)

Maclanx says...
12:12pm Thu 17 Dec 09

Blimey, I can't take much more of this, the suspense is killing me...

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Mick Jones says...
12:22pm Thu 17 Dec 09

Just keep the faith guys, silence in a situation like this is good news. People are talking and solutions are being sought, it is going to be a nervous couple of days and weeks.....it is our club and a message to those around the table..dont you ever fugh king forget that again. It is about time that the people who love the club have a say in running the club. And a big thank you to the Russos who have done their very best..

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Toxic says...
12:24pm Thu 17 Dec 09

Bring Back Jim Bonser, at least we knew where we stood with him!

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Hornets number 12 fan says...
12:26pm Thu 17 Dec 09

If the deadline was moved to today then someone must be promising a payment? I have faith but no finger nails!

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SouthOxheyHornet1 says...
12:33pm Thu 17 Dec 09

The Board want it to go into Admin - they will be able to buy it at a knocked down price - ok, the 10 popint deduction would be a blow...

Its stalling tactics - watch this space....Pre-Package
d Administration - look it up...

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Little Miss Hornet says...
12:35pm Thu 17 Dec 09

No News is Good News, isnt that how the saying goes. Something must be happening for the deadline to have been extended to todayy?. Its about time they thought about the fans in all of this and started keeping them more in the loop about the clubs problems, as the saying is from all watford fans on facebook 'Save Our Club'.

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Harold_Shipman says...
12:40pm Thu 17 Dec 09

I say we burn the vic down.

BURN IT I SAY!

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HectorHornet says...
12:43pm Thu 17 Dec 09

Whatever happens behind closed doors, we still have a loyal, young, hardworking team and their manager to support and they need that support more than ever. If we can't stand the suspense and the uncertainty, how on earth do they feel? Can't make Peterborough or Boxing Day but Postman Pat has just delivered our tickets for Bristol. Hopefuly it's still onwards and upwards on the pitch...............

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D.unstable says...
12:50pm Thu 17 Dec 09

In Elton we trust

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jasonwatford says...
12:53pm Thu 17 Dec 09

In Taylor we Trust

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WFC & Proud says...
1:05pm Thu 17 Dec 09

In MM, the lads & WFC fans we trust

Sec = wait-over...very mystic!

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