Russo confirms Watford set for administration (From Watford Observer)

We all hear you Graham.........
Well almost all!

So the loan will be re-paid by selling the ground to the Russos?

GT is the man, was so good to see him venting his anger on Sky.

Personally I think Jimmy is doing all this evil nonsense because he is planning on extending the allotments south of the vic onto the pitch so he can grow more salad.

This is a nightmare. Can't really believe three multi-millionaires can let such a situation happen. Babies.

Lets hope we all trust in GT's judgement.

He has the clubs and the fans interests at heart regardless of the political game being played.

Well done GT

The Russo's are trying to buy the club on the cheap - but without the support of Taylor and EJ who both appear mad at them - they will only purchase a shell and will lose the heart of the club. JR - be a man - do as you said you would - support the club.

The WO's position is clear from this article, note the phrase 'The Russos’ decision to reject the proposals seems understandable'.
Revenge is a dish best served cold; you can hear the hot breath of Ollie and the unmissed Affleck all over it.

The Russos are a disgrace, nothing more, nothing less.

Still, dear old Billie's happy, so that's alright then

All above my head, but why won't Ashcroft and Simpson sell their shares. Ashcroft and his tax payment's are subject to scutiny. Simpson straight as a dog's hind leg.

disappointed, no one is interested in football, the passion, what it brings to people's lives - it is all about money, ego's, power and one up man ship. Shame the board can't run a proper business in the first place........

This is just the latest move in an increasingly complex fight between two parties who, let's face it will never be able to work together after all that's happened.  The Russos' are playing hardball with Ashcroft and want full control. Their current position may sound unpalatable, but I for one think they are still trying to call Ashcroft's bluff. I actually believe they represent our best hope in the long run- and I hope they force Ashcroft's hand to sell up without having to take us into administration. Ashcroft has more financial clout, but the Russos's loans are secured against Vicarage Rd, and they are using the threat of forcing administration which would wipe out Ashcroft's and Simpson's equity. The Russos' tried a more co-operative approach, with no luck. There is a reason why their loan was restructured recently, and also what all of a sudden we were told there was only money to see us to Christmas. Watch this space, but I hope the Russos's win this battle and continue their good work getting our club out of this financial mess. Their actions have been sensible all along, especially in comparison to the previous regime. Look at how well they played that tool Rodgers and maximised the money we got in a difficult situation. If they weren't interested in Watford FC, then why haven't they just taken Ashcroft's £5m and got out?  Although they have less to lose than Ashcroft if we do go into administration, they will hardly get more than £5m for the ground, which would have an insolvent tenant. 

GT will always be our greatest ambassador, but I'm afraid he is out of his depth here (as he admits himself). He only has the club's best interests at heart, and is an extremely honourable man who has become a pawn in an increasingly unpleasant and all too public wrangle. However, seeing him accuse the Russos' of having bad motives at this point is not going to help.

One more thing- the supporters trust, what are you doing? Surely you have some comment to make on what is happening at our club?  Assuming we get out of this mess, we need to ensure our club does not fall into this kind of situation ever again.  

ralphinator

you need to ask santa for a brain to replace the one clearly missing from your Neanderthal excuse of a head

Great - thanks Russo. You, Ashcroft, Simpson, Ashton - all as bad as each other. Greedy.

Wandsworth

Thanks for your intelligent and constructive comments, well said chap

ralphinator wrote:
The WO's position is clear from this article, note the phrase 'The Russos’ decision to reject the proposals seems understandable'. Revenge is a dish best served cold; you can hear the hot breath of Ollie and the unmissed Affleck all over it. The Russos are a disgrace, nothing more, nothing less. Still, dear old Billie's happy, so that's alright then

In all the articles it does appear the the WO has taken the side of JR and the Salads. Lettuce hope the JR comes to his senses and does care about the club.

It is now appearing that the former Chairman is not acting in the Club's best interest, simply because he is not getting his way. We have not been informed of his so called "rejected solutions" to the situation and can only conclude that his ego may be the problem if he actually cares for the Club

Jimmy on sky sports news in next few mins along with GT

Wags
grow up, your contributions are setting a new low
You're either Jimmy or Billie, can't decide which

JR is asuccessful businessman. He has rescued Watford while Ash & others sat idley by. It is no coincidence the club went downhill when JR was voted off the board a couple of years ago. So, let's not jump the gun here. How many of you would let an adversary take control of the club while costing you hundreds of thousands if not more? If Ash had been serious about saving the club, he would have intervened much earlier. Simo says nothing and Elton who has millions could save the club without a dent to his wealth. So ask him why he won't bail out Watford? The simple fact is that today no-one is prepared to buy the club, unless they get it at a large discount. Remember, the club is still losing 1 mill a month!! Maybe, in hindsight Administration could in the long term work out better than having Ash as a majority owner who seems to have no interest in WFC.

Predictable and pathetic response from the Salad Bros, but not sure they can enforce the threat. Still let's keep supporting them, they're on Sky Sports again. Have faith in GT...

C'MON GUYS, WE NEED TO LOOK AT WHAT HAS HAPPENED OVER THE PAST YEAR AND NOT THE PAST 48 HOURS!

LETS TALK IN FACTS HERE.... JIMMY AND VINCE COME ON BOARD AFTER GIMPSON AND CASHTON DESTROY THE CLUB. THEY GRAB IT BY THE SCRUFF OF THE NECK, SORT IT ALL OUT AND HELP IT UP. THEY THEN RUN OUT OF SPARE CASH AND ASK FOR HELP FROM LORD A (AFTER ALL WHY WOULD BUY A MAJORITY STAKE IN A CLUB AND NOT DO ANYTHING WITH IT). LORD A THEN DECIDES NOT TO HELP, FOR WHATEVER REASON. RUSSO'S PUT TOGETHER A RESCUE PACKAGE AND IT IS REJECTED BUY THE BOARD I.E. JULIANNE W*NKER, STUART T ETC. NEXT MOVE IS TO BRING LORD A TO THE TABLE TO DISCUSS A DEAL. I, FOR ONE, DONT BLAME THE RUSSO'S AT ALL BECAUSE THEY HAVE BEEN KICKED IN THE TEETH TWICE ALREADY. I JUST HOPE THE TORY DOESNT GET HIS WAY.

I DONT AGREE THAT THIS IS OVER AND I ALSO DONT AGREE THAT IT IS OVER EGO'S, MORE PRINCIPLES.

WHY HAS NOBODY MOANED AT LORD A ABOUT ALL OF THIS WHEN HE COULD HAVE AVOIDED THE WHOLE SITUATION MONTHS AGO! UNLESS OF COURSE, HE HAS OTHER MOTIVES SUCH AS TAKING OVER THE GROUND TO AID HIS 'WEST WATFORD REDEVELOPMENT' SCHEME... JUST A THOUGHT.

I WONDER IF CERTAIN PEOPLE WOULD HAVE DONE THINGS DIFFERENTLY IF THEY COULD TURN BACK TIME. I WONDER WHO'S RUNNING ABOUT LIKE A HEADLESS CHICKEN RIGHT NOW, WINTER? WILSON? WHO KNOWS.

VGS could be hit in the pocket far harder than the amount the Club owe them. There is a saying that "Mud Sticks" and if the public feel that VGS have been unreasonable they could choose to buy alternative products.

Stig you live in a WD post code but would be glad to see your local club in administration ...who you support Man Utd Arsenal Tottenham maybe ?
prob Luton !...hope your right wandsworth i had hopes last night there was much going on behind the scenes now after GT's comments on Sky Im not so sure !

Open Ya Mind, I don't think anyone on here actually likes Ashcroft. But Russo is penalising the club for his own gain when he doesn't need to if he puts the club into administration and undoes all the hard work Malky and boys have put in on the pitch. He's probably posturing but all these childish games are not gonna help the squad.

If they've been running the club so well you've also got to wonder about what we were doing in the summer as a club by, for example, buying a player like Travner when we already had three left backs at the clubi if we were in such a bad financial situation. Why was Russo promising Malky a bit of money to spend in January when he was on Soccer AM - was he fronting it out or was he just unaware? I'm beginning to wonder what his true motives are to be honest.

At best he's been incredibly naive.

MIBSWE wrote:
JR is asuccessful businessman. He has rescued Watford while Ash & others sat idley by. It is no coincidence the club went downhill when JR was voted off the board a couple of years ago. So, let's not jump the gun here. How many of you would let an adversary take control of the club while costing you hundreds of thousands if not more? If Ash had been serious about saving the club, he would have intervened much earlier. Simo says nothing and Elton who has millions could save the club without a dent to his wealth. So ask him why he won't bail out Watford? The simple fact is that today no-one is prepared to buy the club, unless they get it at a large discount. Remember, the club is still losing 1 mill a month!! Maybe, in hindsight Administration could in the long term work out better than having Ash as a majority owner who seems to have no interest in WFC.

I suppose it would just be nice to have a board that care about the club and don't have any personal issues with shareholders.

Personal,ly although I would've been happy for Ashcroft to help my concern may have been what love does he have for football etc?

Maybe GT will help us get a real football guy in who will think about the fans.

To think last weeks comments for discussion were whether Danny Graham should have been substituted or not. How our world has changed!!

"VGS has been left with no alternative than to take these steps".
I'm sorry - and this is not just a matter of semantics - but this is not a case of no alternative. JR/VGS has DECIDED to take the step towards administration ( or the threat of it) - not the same thing as 'no alternative'.
The alternative is for a group of individuals , who do not seem to like each other, to negotiate a sensible arrangement from which all will inevitably gain something and also give up something.
I hope that there is strong element of brinkmanship here. Given JR's stated commitment to the club and his wish that administration should not happen (with the consequences other posters have outlined above) I like to think that there might yet be some hope.
'Come on your 'Orns' whatever the outcome off the pitch. But surely from top to bottom of the club we'd
all rather be scrapping for the play
offs than involved in a relegation dog fight.

This is big boys poker, being played with high stakes to determine who has the biggest d*ck! , the problem is, they are using our club to do it with!

Well i'm 100% behind Russo here.He made an offer for the club in November & did not get a response back,WHY??
WE ARE NOT IN ADMINISTRATION YET!!!
Ashcroft,simpson etc,get round the table with Russo's talk like adults & sort this fukcing shambles out once & for all

HOOF wrote:
Well i'm 100% behind Russo here.He made an offer for the club in November & did not get a response back,WHY?? WE ARE NOT IN ADMINISTRATION YET!!! Ashcroft,simpson etc,get round the table with Russo's talk like adults & sort this fukcing shambles out once & for all

I agree Hoof.
I have been around too long to believe we will go into administration. It's just a **** shame that it's come down to the Russo's appearing to be the bad guys here.
More revelations to come no doubt.

since when was "****" a swear word?

put all your differences aside and sort our club out!!!!!

i dont wanna go to sleep and wake up being in admin.

i was there when doyley scored
come on you orns

Oxhey Village Hornet wrote:
To think last weeks comments for discussion were whether Danny Graham should have been substituted or not. How our world has changed!!

and Brendan's sacking has passed without comment - sad days indeed.

I know very little about these things but the big supprise i had was the deadlines It sounds like he can call in the administraters in the morning !

no Watford fan likes to slag off Elton but would anyone on here if they had Eltons money sit and watch this happen ? Maybe he will help but after administration ! an injection of cash before could actually see us possibly into the playoffs (always the optimist)

Call me niaive but - salad boys want their £4.88m. Lord A will pay them in a few weeks with a rights issue anyway, but they want it now and WFC don't have it. Why can't Lord A loan WFC the £4.88m right now. WFC can then pay the Russos right now. Then Lord A could do his rights issue and get HIS £4.88m loan back from the now solvent WFC. Russos will have their money, WFC saved. Yes - I know that Lord A will be paying his "loan" back to himself, but it will still only cost him the £7.5m that it would have cost him anyway. Russos don't seem to be getting a very good press, but Lord A has it in his power to sort it out with no greater loss than he's already committed to. Am I missing something here?

The following are the FACTS - don't ask for the source but if you read on maybe the blinkered fans who have been sucked in by the spin over the last year will wake up.

The Russo’s have been using their bully boy tactics on the rest of the board for months. The premise of this bullying is that they want the non-exec directors to sanction a sale to them at below market rate to ensure that they can then sell the company on for profit while scuppering Lord A’s and G. Simpson’s investment as part of their revenge. They do not understand that the non-exec directors have neither the power nor the willingness to sanction the sale of the club. Since they decided to stand down they have threatened to sue the current board if they lose any money of their investment even though they have already had nearly half of this back through interest rates and bonus payments they sanctioned when originally on the board!!!

It is understood that they have been putting pressure on the non-exec directors to sanction remuneration totaling over 400k per annum whilst at the same time submitting expenses for £'000's they haven't actually incurred not to mention flying first class to Argentina on a trip costing nearly £20k because THEY wanted to scout players.

In the days building up to the AGM the Russo's tried to force the club to pay their remuneration of over £400k to not only get their money but also force the club into insolvency so they could avoid being voted off. The non-exec directors withheld this to ensure the votes by shareholders could be cast and the club saved from going into administration as they were already aware of the offer from Lord Ashcroft which the Russo's refused to discuss.

These are facts that fans shouldn't have to know but at such a crucial time the truth needs to be told.

It's a classic case of wealthy people getting involved in football. As they say"if you want to make a small fortune out of football, start with a big one !"
It's now a case of stark realisation, Ashcroft won't put in from his fortune, whilst he's had people putting their hard earned money trying to help the club, which has turned out to be a nightmare for them, allbeit secured in some way "against the ground". Why should any of them throw good money after what has turned out to be bad?
Damage limitation from egos, leaving club to suffer as a result and ultimately eventually disappear potentially.
Great shame.

HOOF wrote:
Well i'm 100% behind Russo here.He made an offer for the club in November & did not get a response back,WHY?? WE ARE NOT IN ADMINISTRATION YET!!! Ashcroft,simpson etc,get round the table with Russo's talk like adults & sort this fukcing shambles out once & for all

We don't know the offer and even so why should Ashcroft agree? Ashcroft made a public offer and JR and the Salads turned it down. Ashcroft is the majority owner - whhy don't the Salads take their money and run- leave GT to get on with running the club.

maybe I'm naive, but I'm with the salad boys. They are trying to flush Ashcroft out in my view. He sat on his a**e until they forced him to make a move, and now he has come in with what seems to me the minimmum commitment he can. If we go into administration, we lose 10 points for sure, but I think after that we can regain safety, and with the Tory demigod out of the way, there is a chance they can rebuild. With Ashcash still on board, we are just a housing development waiting to happen.

V.o.R wrote:

TonyCoton wrote: Russo the c*nt will never get my support now. Simpson helped screw us up but at least he had the best (although misguided) intentions. Goodbye Cleverly, Lansbury, Helguson and hello demotivated squad, fire sale and likely relegation.

You can now see what I've been on about for the past year? There is still more to this but GS still has 900k owing to him shortly..... While he may not be to everyone's liking, he hasn't gone the way of 'Rsole

You really are a Retard!

Russos The Truth wrote:
The following are the FACTS - don't ask for the source but if you read on maybe the blinkered fans who have been sucked in by the spin over the last year will wake up. The Russo’s have been using their bully boy tactics on the rest of the board for months. The premise of this bullying is that they want the non-exec directors to sanction a sale to them at below market rate to ensure that they can then sell the company on for profit while scuppering Lord A’s and G. Simpson’s investment as part of their revenge. They do not understand that the non-exec directors have neither the power nor the willingness to sanction the sale of the club. Since they decided to stand down they have threatened to sue the current board if they lose any money of their investment even though they have already had nearly half of this back through interest rates and bonus payments they sanctioned when originally on the board!!! It is understood that they have been putting pressure on the non-exec directors to sanction remuneration totaling over 400k per annum whilst at the same time submitting expenses for £'000's they haven't actually incurred not to mention flying first class to Argentina on a trip costing nearly £20k because THEY wanted to scout players. In the days building up to the AGM the Russo's tried to force the club to pay their remuneration of over £400k to not only get their money but also force the club into insolvency so they could avoid being voted off. The non-exec directors withheld this to ensure the votes by shareholders could be cast and the club saved from going into administration as they were already aware of the offer from Lord Ashcroft which the Russo's refused to discuss. These are facts that fans shouldn't have to know but at such a crucial time the truth needs to be told.

If what you say is true........ then I have little time for the Salads. BTW, where did you get your information?

All of us at Posh on Saturday (snow permitting) must sing out for Graham. Ashcroft, Russos and Simpson are less than we deserve, GT is more. Let him know

Remember that Ash is a politician and so has the skills to appear as the good guy, while the opposite may be true. He is a non-dom, so cannot be in the country longer than 3 months. So, you have to question his motives. Simo.....well he gambled on black and got us into the red and hid the truth.

GT loves the club and he has expressed his opinion. He can't relate to these tactics when WFC's status is damaged. Elton's love for Watford does not extend to his pocket unfortunately, but I think he is disillusioned with football after seeing the greed during Vialli's reign.

Russo is playing a high stake game, which from the outside seems baffling, but there is something going on which will come out in time. Ash's arrogance, Simo hiding and no help for the Russos financing the club as minority shareholders.....it had to come ahead at some point. I just hope WFC survive and the players stay focused.... I'm sure Malky won't let that happen. Thank god we have him and not Buck who got his come uppance!

BTW, having questioned the WO's stance earlier, I would at least like to thank them for keeping these lines of communication open in real time without moderation. All helps healthy debate

The Russos wanted to run a Championship football club. Sadly, they didn't have enough money to do this. Lord Ashcroft, however vile he may be, does have the money. But the Russos won't play ball with him now because, I assume, he is a peer of the realm and they, as Italians, have been looked down at by his lordship. I understand how hurt they must feel but, surely, for the sake of WFC they should swallow their pride, take up his reasonable offer, and retire in good grace from the club without showing all this nasty venom. Just think, Messrs Russo, last week you were heroes, this week villains. Why not become heroes again? Your money is, after all, going to be repaid and you've had your few months of glory.

Russos The Truth wrote:
The following are the FACTS - don't ask for the source but if you read on maybe the blinkered fans who have been sucked in by the spin over the last year will wake up. The Russo’s have been using their bully boy tactics on the rest of the board for months. The premise of this bullying is that they want the non-exec directors to sanction a sale to them at below market rate to ensure that they can then sell the company on for profit while scuppering Lord A’s and G. Simpson’s investment as part of their revenge. They do not understand that the non-exec directors have neither the power nor the willingness to sanction the sale of the club. Since they decided to stand down they have threatened to sue the current board if they lose any money of their investment even though they have already had nearly half of this back through interest rates and bonus payments they sanctioned when originally on the board!!! It is understood that they have been putting pressure on the non-exec directors to sanction remuneration totaling over 400k per annum whilst at the same time submitting expenses for £'000's they haven't actually incurred not to mention flying first class to Argentina on a trip costing nearly £20k because THEY wanted to scout players. In the days building up to the AGM the Russo's tried to force the club to pay their remuneration of over £400k to not only get their money but also force the club into insolvency so they could avoid being voted off. The non-exec directors withheld this to ensure the votes by shareholders could be cast and the club saved from going into administration as they were already aware of the offer from Lord Ashcroft which the Russo's refused to discuss. These are facts that fans shouldn't have to know but at such a crucial time the truth needs to be told.

Ah, the other side of the spin machine argument. Just seen Jim on Sky and Ashcroft wants him to put £2.3m more just to maintain his stake...without a seat on the Board...again. That is totally unreasonable. I do suspect the Russo's are more used to running their own private company than a PLC. If you are the only parties keeping the ship afloat, I can imagine you may find it difficult to differentiate between the two, the private company where you take remuneration from the money you earn, trips that you chose to take because you feel you can benefit the business. 'Russo's the truth' above, obviously part of the evil spin machine whirring into action, therefore may have a point in respect of a couple of issues. The fact is, without them, we would already have been in administration. As I have said, the brothers may not be perfect, but their money has kept the club afloat, and for these other hangers on who have contributed diddly squat since Ashton and Hoof under Simpson and Wilson, to try to discredit them is disgusting. As Jim just said, he did not become a bad guy overnight. Remember Simpson is supporting this latest nonsense, he shafted Jim and Vince before, with Wilson's help, and he is doing it again.

And, by the way, Jim just said he still wants to get around a table and sort this and does not want to put the club into administration. They knew they were getting ambushed at the AGM. They have been kicked out again but we still want their money. Ye Gods what does anyone expect.

Wags, thanks for your comments. It's also good to see some more constructive debate going on. 

I also agree with others that our club is being cocked around by some big egos, which is not right - Only Rodgers felt that anyone could be bigger than a club 'i'm so glad Watford has been part of MY Story!' 
I also accept that Russo hasn't done everything right or been completely honest either.  Part of me is concerned about  what their motives might be as we can't be sure.  Mistakes have also been made, travner, going down the tribunal route for Graham. However, Ashcroft's choice of coming in with a rights issue isnt such a great offer-it means that Russo has to put more money into retain his % holding, and with no representation on the Board. The tone of Russo's interview on sky sports earlier was more about getting all parties round the table, than immediately putting the club into administration. Let's hope something more positive happens in the next few days so the players can focus back on playing as well as they have been, and less on the circus that's going on around our club.

As an aside, Madejski is on Sky sports just now describing Rodgers as a 'straight forward, nice guy!'  

Wandsworth Horn wrote:
This is just the latest move in an increasingly complex fight between two parties who, let's face it will never be able to work together after all that's happened.  The Russos' are playing hardball with Ashcroft and want full control. Their current position may sound unpalatable, but I for one think they are still trying to call Ashcroft's bluff. I actually believe they represent our best hope in the long run- and I hope they force Ashcroft's hand to sell up without having to take us into administration. Ashcroft has more financial clout, but the Russos's loans are secured against Vicarage Rd, and they are using the threat of forcing administration which would wipe out Ashcroft's and Simpson's equity. The Russos' tried a more co-operative approach, with no luck. There is a reason why their loan was restructured recently, and also what all of a sudden we were told there was only money to see us to Christmas. Watch this space, but I hope the Russos's win this battle and continue their good work getting our club out of this financial mess. Their actions have been sensible all along, especially in comparison to the previous regime. Look at how well they played that tool Rodgers and maximised the money we got in a difficult situation. If they weren't interested in Watford FC, then why haven't they just taken Ashcroft's £5m and got out?  Although they have less to lose than Ashcroft if we do go into administration, they will hardly get more than £5m for the ground, which would have an insolvent tenant.  GT will always be our greatest ambassador, but I'm afraid he is out of his depth here (as he admits himself). He only has the club's best interests at heart, and is an extremely honourable man who has become a pawn in an increasingly unpleasant and all too public wrangle. However, seeing him accuse the Russos' of having bad motives at this point is not going to help. One more thing- the supporters trust, what are you doing? Surely you have some comment to make on what is happening at our club?  Assuming we get out of this mess, we need to ensure our club does not fall into this kind of situation ever again.  

Well spoken! There is only one person that tries to get the power over this club WITHOUT paying what it is worth to other owners, and that is Ashcroft. I hope...

Russos The Truth wrote:
The following are the FACTS - don't ask for the source but if you read on maybe the blinkered fans who have been sucked in by the spin over the last year will wake up.

The Russo’s have been using their bully boy tactics on the rest of the board for months. The premise of this bullying is that they want the non-exec directors to sanction a sale to them at below market rate to ensure that they can then sell the company on for profit while scuppering Lord A’s and G. Simpson’s investment as part of their revenge. They do not understand that the non-exec directors have neither the power nor the willingness to sanction the sale of the club. Since they decided to stand down they have threatened to sue the current board if they lose any money of their investment even though they have already had nearly half of this back through interest rates and bonus payments they sanctioned when originally on the board!!!

It is understood that they have been putting pressure on the non-exec directors to sanction remuneration totaling over 400k per annum whilst at the same time submitting expenses for £'000's they haven't actually incurred not to mention flying first class to Argentina on a trip costing nearly £20k because THEY wanted to scout players.

In the days building up to the AGM the Russo's tried to force the club to pay their remuneration of over £400k to not only get their money but also force the club into insolvency so they could avoid being voted off. The non-exec directors withheld this to ensure the votes by shareholders could be cast and the club saved from going into administration as they were already aware of the offer from Lord Ashcroft which the Russo's refused to discuss.

These are facts that fans shouldn't have to know but at such a crucial time the truth needs to be told.

Fair play......
I hope you suffer no ramifications over this, as (others) have tried with me.
I must confess noone is whiter than white over this utter shambles, just a shame there are more caught in the middle not knowing what, or who, to believe.

Billie - there are people on here who support the Ashcroft line (not many) and there are people who swallow the whole 'we're just straight guys getting shafted by the evil Tory' Russo schtick.

Simple fact is, they're all in it for money and/ or the kudos associated with proximity to highish ranking football teams.

Nobody can win outright here, but the Russos can screw the whole thing by being too 'Sicilian'.

It wasn't easy talking with the IRA, but ways were found. We're at that sort of stage here....

For heavens sake get real.

Fordwat did nothing for our club and then made an offer that was totally in their favour and totally against the interests of the Russos.

If Taylor and Co had done their job earlier and better we could have avoided this.

Make no bones about this GT is the top man for what he achieved on the pitch at WFC. He is a makeweight when it comes to finance.

Russo did a lot for us as chairman dont forget it. Now to avoid Administration forget what GT says and clear your heads.

Fordwat now eventually that they are negotiating need to come back to the table with an offer that doesnt screw Russo.

It is possible for them and the Russos to come out of this happy, by either combining their efforts and work together or for one to buy the other out.

Jimmy made an offer to buy out Fordwat and Homer, GT and the rest of the board have yet to indicate their acceptance or refusal of this why...and if Fordwat are to take control which Taylor seems to favour let them make an offer to buy out Russo on the terms he offerred them.

Graham and co need to sort out the wood from the trees...either a non exec is biaised or the nomad is suspect and performing below expectations with advice.

If all the parties can take a sensible pill this can be sorted out but at the moment I will say Taylor has it wrong and he and Fordwat are not doing WFC any favours.

Fordwat backed Homer and we know where that got us and who with the interests of the club at heart would be ready to vote the Russos off the board, then when they resign offer no replacements and take a year to make any gesture of help. In meantime GT accepted a role on the board says nothing until two days ago...maybe too busy with his media commitments.

The Russos were good for this club and sweated buckets committed money etc and Ashcroft has done sweet FA except block the Russos when they wanted to buy the whole club.

And with all that so many of you condemn the Russos...get real, look at the facts and hand on heart who do you think is best in the boardroom for us. Chose between GT/Russo/Homer and or Ashcroft....based on actions there is only one person you can back

Just read Russo's statement on Sky News and I would have done the same thing as him. Why would anyone pay another 2.3 mill to maintain their shareholding and have no seat on the Board? The club when led by Simo with Ash's backing brought WFC to the situation it is in today. So why would you want to have owners that didn't do a good job last time? Ash is playing games and if he and Simo are serious about WFC,
they should sit down together and
come to an agreement. If Ash & co
don't, then they are the ones to
blame, not Russo.

watford fc has turned out to be a plaything for unscrupulous men. there is no honour here whatsoever among these rather seedy individuals. i dont believe that either of these parties has the best interests of the club at heart. the only people who genuinely care are the type of decent people who love their club and take the time to post comments on here

watford fc has turned out to be a plaything for unscrupulous men. there is no honour here whatsoever among these rather seedy individuals. i dont believe that either of these parties has the best interests of the club at heart. the only people who genuinely care are the type of decent people who love their club and take the time to post comments on here

V.o.R wrote:

Russos The Truth wrote: The following are the FACTS - don't ask for the source but if you read on maybe the blinkered fans who have been sucked in by the spin over the last year will wake up. The Russo’s have been using their bully boy tactics on the rest of the board for months. The premise of this bullying is that they want the non-exec directors to sanction a sale to them at below market rate to ensure that they can then sell the company on for profit while scuppering Lord A’s and G. Simpson’s investment as part of their revenge. They do not understand that the non-exec directors have neither the power nor the willingness to sanction the sale of the club. Since they decided to stand down they have threatened to sue the current board if they lose any money of their investment even though they have already had nearly half of this back through interest rates and bonus payments they sanctioned when originally on the board!!! It is understood that they have been putting pressure on the non-exec directors to sanction remuneration totaling over 400k per annum whilst at the same time submitting expenses for £'000's they haven't actually incurred not to mention flying first class to Argentina on a trip costing nearly £20k because THEY wanted to scout players. In the days building up to the AGM the Russo's tried to force the club to pay their remuneration of over £400k to not only get their money but also force the club into insolvency so they could avoid being voted off. The non-exec directors withheld this to ensure the votes by shareholders could be cast and the club saved from going into administration as they were already aware of the offer from Lord Ashcroft which the Russo's refused to discuss. These are facts that fans shouldn't have to know but at such a crucial time the truth needs to be told.

Fair play...... I hope you suffer no ramifications over this, as (others) have tried with me. I must confess noone is whiter than white over this utter shambles, just a shame there are more caught in the middle not knowing what, or who, to believe.

VoR

are you now doubting your hero the silver fox and alround ladies man?

Derry

sec word :cash-gone

As the night wears on the debate gets more sensible. I just hope the same will apply over the next day or two at Vicarage Road. Football has a habit of mixing elation with desolation, and how I feel this evening is poles apart from who proud I felt at Newcastle, and how lucky i felt to witness THAT goal just 10 days ago.

My reading of this is that the Russos would need to pay another £2.3m to maintain their current level of shareholding (although still wouldn't have a seat on the board). But they wouldn't have to pay that £2.3m - they could just walk away with the money they've put in so far. The reason that they are stalling is that they are refusing to walk away.

If these monkeys - ie any of the various factions playing boys' games with OUR club - thought anything of WFC, they would chip in half each, grovel on their knees to GT to be chairman full-time, and let a man of integrity run the show.

V.o.R wrote:
We all hear you Graham......... Well almost all!

shut up u pr1ck

For heavens sake get real.

Graham Taylor achieved a miracle on and off the pitch for our club but in the boardroom he is no great shakes and is out of his depth.

What we have is Fordwat having been neutral and then obstructive for the best part of a year coming along, willing to vote the Russos off with Homers help and yet offer noone for the board.

Then they produce a last minute offer doing nothing but attempting to screw the Russos. In this they are helped by GT saying the Russos wont give him an answer...a bit like him and Timperley over the Russos offer.

At the end of the day if the two parties wont work together for the benefit of the club then one has to go.

The Russos realised this and offerred to buy Fordwat and others out. This offer awaits comment from GT and Co. If the offer wasn't acceptable say so but to say nothing is stupid.

If Fordwat and others reckon it was derisory then why not make an offer to buy the Russos out on the same terms. seems fair to me but they wont do that...with this rights issue Fordwat hope to gain control (over 50%) without buying others out but at the same time asking those others to leave their loan in for a couple of months so they can be turned over and their minority shareholding become valueless and powerless for the foreseeable future.

Very very unfair and yet rubber stamped by GT.

So in the last year Russo has sweated buckets, backed us with millions and his reward is to be turned over by Fordwat who have done nothing and a chairman who is being used as a puppet.

I have supported ths club for 53 years and hope to do so for many more years and would ask graham to wake up, look at the facts and get the two parties together and sort it. But to slag Russo off graham does the man a bad service and make sure you count your fingers with your new friends when you shake on anything.

I hope the Russos are part of our future but if not they need to be treated fairly as they have earnt that. they have done more for us in the last year than anyman has for many many years other than GT and SEJ and in terms of the last year JR is a mile ahead of GT who has to date got this badly wrong.

Many seem to be treating it as fact that Lord Ashcroft made no offer until today and has refused to have contact with WFC. Indeed Jimmy Russo implied as much during his resignation speech, although he chose his words very carefully - "I've had no contact" doesn't mean "the board's had no contact". And yes, I was there.

Yet immediately afterwards GT expressed great anger not only that they had failed to give him any notice of their resignations but also that they had implied that theirs was the only offer. He made it clear that there were already offers on the table from BOTH parties, so there HAD been contact. Why did JR choose to mislead the meeting by implying otherwise? And why did he have the Sky cameras waiting outside?

All of our opinions of the character of Lord Ashcroft comes from what we have read in the press/other media. And while many will assume that 'there's no smoke without fire', what is he actually KNOWN to have done wrong here? How do we know that any proposals made to him by the Russos were any more acceptable than the ones they now say are unacceptable to them.

Yes, the Russos put money into the club at important times, but they did much of this as secured loans. Ashcroft put his money in as equity which all football fans must know is as good as saying goodbye to it where a football club is concerned.

So it's not quite so clear cut who is the hero and who is the villain. People's conclusions seem to have come more from who has made the most noise rather than established facts.

In the absence of facts, my inclination is to go with my gut instinct and, from the way GT was at the meeting and since, this means Ashcroft rather than Russo for me at the moment. I don't know him and I don't think anyone else commenting here does either, but I'm not going to condemn him on hearsay.

Jimmy said tonight, "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."

The first part of this is a nonsense - a capital raising exercise offers all shareholders the chance to subscribe on equal terms, so if one subscribes then the others have to do the same to maintain their percentage shareholding. This is simple maths. The second point is more valid - I don't think it's unreasonable for a near 30% shareholder to ask for a place on the board, so perhaps that's where some leeway could be given by the other side, although I struggle to see how they could now have a working relationship!

We have to trust in GT, the other non-execs and Julian Winter as 'honest brokers'. Let the poker-playing shareholders show us who the good guy is through their actions. The jury's still out at the moment, but the evidence certainly looks very different from just over 48 hours ago...

Hornet Cornet wrote:

V.o.R wrote:
We all hear you Graham......... Well almost all!

shut up u pr1ck

Not to your usual standard Canut, still beating yourself up over thinking about me in your honeymoon bed on your wedding night?
saddo!

Chris the Vic wrote:
For heavens sake get real. Graham Taylor achieved a miracle on and off the pitch for our club but in the boardroom he is no great shakes and is out of his depth. What we have is Fordwat having been neutral and then obstructive for the best part of a year coming along, willing to vote the Russos off with Homers help and yet offer noone for the board. Then they produce a last minute offer doing nothing but attempting to screw the Russos. In this they are helped by GT saying the Russos wont give him an answer...a bit like him and Timperley over the Russos offer. At the end of the day if the two parties wont work together for the benefit of the club then one has to go. The Russos realised this and offerred to buy Fordwat and others out. This offer awaits comment from GT and Co. If the offer wasn't acceptable say so but to say nothing is stupid. If Fordwat and others reckon it was derisory then why not make an offer to buy the Russos out on the same terms. seems fair to me but they wont do that...with this rights issue Fordwat hope to gain control (over 50%) without buying others out but at the same time asking those others to leave their loan in for a couple of months so they can be turned over and their minority shareholding become valueless and powerless for the foreseeable future. Very very unfair and yet rubber stamped by GT. So in the last year Russo has sweated buckets, backed us with millions and his reward is to be turned over by Fordwat who have done nothing and a chairman who is being used as a puppet. I have supported ths club for 53 years and hope to do so for many more years and would ask graham to wake up, look at the facts and get the two parties together and sort it. But to slag Russo off graham does the man a bad service and make sure you count your fingers with your new friends when you shake on anything. I hope the Russos are part of our future but if not they need to be treated fairly as they have earnt that. they have done more for us in the last year than anyman has for many many years other than GT and SEJ and in terms of the last year JR is a mile ahead of GT who has to date got this badly wrong.

I am with you on that post Chris, we all love GT but like us all he is being used as pawn in the ruthless lord ashcroft's plans for other gain that is not about Watford FC!

V.o.R wrote:

Hornet Cornet wrote:

V.o.R wrote: We all hear you Graham......... Well almost all!

shut up u pr1ck

Not to your usual standard Canut, still beating yourself up over thinking about me in your honeymoon bed on your wedding night? saddo!

Retard

back to your best you main player ,your in the know aren't you? NOT!

Derry

Seen the Sky interview from Russo, a totally ridiculous and pompous man. He comes across as a clown / drama queen, just loving the spotlight and his 10 minutes of fame. He's way out of his depth and is in danger of undoing all the good work he's done in the last year, although I'm still not sure he's in a position to carry out his threat to place WL in administration, which will actually cause him to lose more.

I love our club as much as any fan, but maybe we should spare a thought for some of the local businesses who are unsecured creditors and stand to lose a sight more than 10 points. The whole thing is a disgrace and not what our club is about.... Wish I knew the answer, but know this....am heartily sick of russos and Ashcroft.....merry Xmas to them with their millions

Chris the Vic wrote:
For heavens sake get real. Graham Taylor achieved a miracle on and off the pitch for our club but in the boardroom he is no great shakes and is out of his depth. What we have is Fordwat having been neutral and then obstructive for the best part of a year coming along, willing to vote the Russos off with Homers help and yet offer noone for the board. Then they produce a last minute offer doing nothing but attempting to screw the Russos. In this they are helped by GT saying the Russos wont give him an answer...a bit like him and Timperley over the Russos offer. At the end of the day if the two parties wont work together for the benefit of the club then one has to go. The Russos realised this and offerred to buy Fordwat and others out. This offer awaits comment from GT and Co. If the offer wasn't acceptable say so but to say nothing is stupid. If Fordwat and others reckon it was derisory then why not make an offer to buy the Russos out on the same terms. seems fair to me but they wont do that...with this rights issue Fordwat hope to gain control (over 50%) without buying others out but at the same time asking those others to leave their loan in for a couple of months so they can be turned over and their minority shareholding become valueless and powerless for the foreseeable future. Very very unfair and yet rubber stamped by GT. So in the last year Russo has sweated buckets, backed us with millions and his reward is to be turned over by Fordwat who have done nothing and a chairman who is being used as a puppet. I have supported ths club for 53 years and hope to do so for many more years and would ask graham to wake up, look at the facts and get the two parties together and sort it. But to slag Russo off graham does the man a bad service and make sure you count your fingers with your new friends when you shake on anything. I hope the Russos are part of our future but if not they need to be treated fairly as they have earnt that. they have done more for us in the last year than anyman has for many many years other than GT and SEJ and in terms of the last year JR is a mile ahead of GT who has to date got this badly wrong.

If Fordwat are willing to put in 7.5 million then what is your issue about them gaining control? The Salads are not putting any money in - just taking 5 million out -

russo is a man that demands respect which is something in life that would normally be earned. He has p****d off alot of good people during the last year. He would be mad news for the club if he returns. Really!!!!!!!!!!

It surely must be possible for Sir EJ to pay-off VGS and collect it back from the rights issue a few weeks later? That way - no administration. Or am I being too simplistic? Comments please.
ps: security word "cash-shot" can you believe it?

Wandsworth Horn wrote:
This is just the latest move in an increasingly complex fight between two parties who, let's face it will never be able to work together after all that's happened.  The Russos' are playing hardball with Ashcroft and want full control. Their current position may sound unpalatable, but I for one think they are still trying to call Ashcroft's bluff. I actually believe they represent our best hope in the long run- and I hope they force Ashcroft's hand to sell up without having to take us into administration. Ashcroft has more financial clout, but the Russos's loans are secured against Vicarage Rd, and they are using the threat of forcing administration which would wipe out Ashcroft's and Simpson's equity. The Russos' tried a more co-operative approach, with no luck. There is a reason why their loan was restructured recently, and also what all of a sudden we were told there was only money to see us to Christmas. Watch this space, but I hope the Russos's win this battle and continue their good work getting our club out of this financial mess. Their actions have been sensible all along, especially in comparison to the previous regime. Look at how well they played that tool Rodgers and maximised the money we got in a difficult situation. If they weren't interested in Watford FC, then why haven't they just taken Ashcroft's £5m and got out?  Although they have less to lose than Ashcroft if we do go into administration, they will hardly get more than £5m for the ground, which would have an insolvent tenant.  GT will always be our greatest ambassador, but I'm afraid he is out of his depth here (as he admits himself). He only has the club's best interests at heart, and is an extremely honourable man who has become a pawn in an increasingly unpleasant and all too public wrangle. However, seeing him accuse the Russos' of having bad motives at this point is not going to help. One more thing- the supporters trust, what are you doing? Surely you have some comment to make on what is happening at our club?  Assuming we get out of this mess, we need to ensure our club does not fall into this kind of situation ever again.  

100% right wandsworth, GT always a legend at team level, but not in this financial arena, and I wish he had not commented. I think the Russos are the best option with 100% control. Giving public support in the other direction could make his on-going position difficult if the Russos prevail.

Another thought.. If Simpson/Ashcroft prevail, and we know EJ was not a fan, what happens to the £200 quid I have spent on his gig next summer?
Fingers crossed!!!

Chris the Vic wrote:
For heavens sake get real.

Graham Taylor achieved a miracle on and off the pitch for our club but in the boardroom he is no great shakes and is out of his depth.

What we have is Fordwat having been neutral and then obstructive for the best part of a year coming along, willing to vote the Russos off with Homers help and yet offer noone for the board.

Then they produce a last minute offer doing nothing but attempting to screw the Russos. In this they are helped by GT saying the Russos wont give him an answer...a bit like him and Timperley over the Russos offer.

At the end of the day if the two parties wont work together for the benefit of the club then one has to go.

The Russos realised this and offerred to buy Fordwat and others out. This offer awaits comment from GT and Co. If the offer wasn't acceptable say so but to say nothing is stupid.

If Fordwat and others reckon it was derisory then why not make an offer to buy the Russos out on the same terms. seems fair to me but they wont do that...with this rights issue Fordwat hope to gain control (over 50%) without buying others out but at the same time asking those others to leave their loan in for a couple of months so they can be turned over and their minority shareholding become valueless and powerless for the foreseeable future.

Very very unfair and yet rubber stamped by GT.

So in the last year Russo has sweated buckets, backed us with millions and his reward is to be turned over by Fordwat who have done nothing and a chairman who is being used as a puppet.

I have supported ths club for 53 years and hope to do so for many more years and would ask graham to wake up, look at the facts and get the two parties together and sort it. But to slag Russo off graham does the man a bad service and make sure you count your fingers with your new friends when you shake on anything.

I hope the Russos are part of our future but if not they need to be treated fairly as they have earnt that. they have done more for us in the last year than anyman has for many many years other than GT and SEJ and in terms of the last year JR is a mile ahead of GT who has to date got this badly wrong.

Great post. I totally agree (40 years supporter)

GT is not a businessman, he is out of his depth here

Jimmy jumped before pushed

I think Winter has been underhand here ..... Stating we should be 'ecstatic' about Ashcroft's offer !!!! Mmmmmm what's he gaining out of this !?!?

So why should Jimmy stump up ANOTHER £2.3M, just to keep his 30% holding, yet LOSE his place on board !!! £2.3M to go backwards, oh and we will give you (VGS) your money back in a month (if your lucky). NET EQUALS you only get £2.5M back and no place on board, no say, I say NO DEAL !!!!

Ashcroft was not at AGM, I fear Winter is now his puppet. Why !?!?

For the sake of those who love the club, let's look at last 12 months, look at ALL the GOOD Jimmy & Vince done, saved us from Admin 3 times !!! ACTIONS SPEAK LOUDER THAN WORDS AND PAPER OFFERS

I say Ashcroft/Simpson, sell up to Jimmy & Vince, b@gger off !!

Winter knows if Jimmy & Vince take over, he is gone now he shown his hand .....

Jimmy & Vince brought GT back, Graham don't forget that ...

IF we do go into Administration, I fully understand why !! Previous regimes, underhand business, NOT because of Jimmy & Vince

They kept the powder dry around Simpson when couldve gone public, shame they don't have dirt on Ashcroft (outside of what's in press anyway)

jimmy & vince will always be welcome by me .....

I am thinking of starting 'WISC' Watford Independant Supporters Club. If there is SUPPORT for this, I will set up a meeting next week in Watford ?!?!?!

Ps. Remind me how many games Ashcroft has attended ???

Pss. All Jimmy wants VERY QUICKLY is for ALL parties to get round the table (chaired by GT). He offered to meet ASHCROFT anywhere in the world over past month to do just that - fell on deaf ears....

If we need to go to Admin, to finally get rid of Ashcroft & Simpson, for Jimmy & Vince to buy us back out and take control, then so be it !!!

We lose 10 points, but also lose our debts .... and get rid of the the skeletons. As long as we stay up then no harm done

The next contract given out at Watford should be on the Russo Bros....i have worked inside this club and they have **** more people off than you lot would ever know. They are in it for themselves and the best way is for Ashcroft to invest and let GT run the show behind the scenes. GT must make that call to Elton and get a loan of 4.88million for a month to pay off those couple of small men ( they hate that ) I will not support the small men in any bid to get the club back

Well Mr Russo, I remember not long agao when you were having ago at the last Chairman, (short Mem) if you have any thought about Watford FC, stop playing silly buggers, you are now looking like the rotten veg, silly people

In GT we trust

I have read your I was there article and unlike GT who speaks with his heart you speak with a degree of economy.

The offer put forward by Fordwat to some of the board, if not all of them was not to buy out the other shareholders, as was JRs.

Furthermore by Fordwat underwriting the issue they have the right to pick up any unsubscribed shares.

Therefore if Homer doesnt subscribe and why would he or how could he? they will effectively pick up his shares and with a few others are then over 50% of the company and have control of the company thus freezing the Russos bit of power and unless Fordwat sell up the Russos whether they subscribe or not are left with a powerless holding and no seat on the board with Fordwat clevely in control.

So let Fordwat buy out the Russos shares on the terms Jimmy offerred then that is fair.

Of course the other thing is Ashcrofts connection with Homer and how that has worked. Why did Homer leave suddenly and no word was said. We can all guess did Ashcroft agree to do nothing if the Russos didnt expose the reasons Homer went. In return did Homer agree to support Ashcroft?

I personally have reservations over the Russos but they are nothing to the contempt I hold for Homer and Ashcroft. As for Taylor he doesnt understand why Russo is threatening admin but then of course GT isnt about to lose £2m in investment or even more if he subscribes to the rights issue.

As for you In GT we trust you have oversimplified and missed out on the cunningness of Fordwat and the stupidity of Taylor and Co to recommend a plan that is backed by Homers ally and writes off for god knows how long £2m plus of a mans money, the same man that kept us going this year whilst GT played pundit and Ashcroft sat and watched and then would have voted the Russos off to ensure a clear run for their rip off plan. Taylor was always a great supporter of Loyalty maybe with age he is less so.

From Russo's comments last night, although he came accross very arrogant and dramatic, the offer put to him is embaressing and a disgrace!! Although he is clearly not squeeky clean, he has helped the club dramatically since being in charge despite not even being the majority shareholder, he has done all he can and reiceved no support what-so-ever and that says it all... although all the press are saying the balls in the Russo's court, it really isnt, Ashcroft and Simpson, sort this out!!

Duckfan Forwat are willing to put in 7.5 m less costs if other shareholders dont subscribe. By doing this they can effectively own a proportion of the club which gives them control through the backdoor and costs the Russos between £2m and £4m by leaving them with a minority share that will have no power. To do this which is obviously not in the Russos interest they are asking the Russos to leave their loan in for a couple of months to give the rights issue time to be set up. In essence Ashcroft wants Russo to cut his own throat. This is obviously not fair.
Ashcroft can now let the club go into Administration and risk an auction with the Russos if they want to stay involved or he can take the loan over immediately and repay it out of the rights issue thus avoiding administration.
What would have been the sensible way of doing all this was for one party to buy the other out, assuming they cant work together, but that of course under AIMS rules would have forced the buyer to open up the offer to all shareholders.
So as you can see Ashcroft is trying it on through the backdoor.
Then under Ashcrofts scheme if the Russos loan were to be repaid, in less than three months we would again run out of cash unless we sell players for about £3m and at that time Ashcroft could take over the stadium and a year later I suspect the bulldozers would be in making the Russos total losers and heaven knows how much profit for Ashcroft.

And there you have my problem with the offer,unfair and short term. What we need is all parties to sit down and put WFC first with a fair and reasonable plan for all, but then that would destroy Ashcrofts strategy which is exactly why unless he can be shamed it will not happen.

Question to all those being anti Russo, would you be feeling that way if they had been voted off the board as Lord A and Simpson were planning. Just because they jumped before they were pushed they are being vilified, just because they are fed up of being the only shareholders to have put their money where their mouths are they are being vilified. The offer from Fordwat would only benefit Lord A unless the Russo's pumped even more money into the club, if Fordwat have £7.5mill for the rights issue then they have money that they could have invested in the club the past 12 months which would have prevented what is happening now from happening. If they have that money they can also pay back the loan and actually help the cliub get out of the debt they helped it get into in the first place.

I do think its disgusting that games are being played with the clubs future but even so I can understand the Russo's wish, after Lord A and SImpson where planning to treat them shabbily again, to get them to either put up or shove off. If this is part of a plan to gain control then I do hope they win, yes I'm sure they'll get stick but long term they're much better news for the club than Lord A and Simpson

Agree with Garston Tony.I dont suppose any of them have pure motives but at least the Russos kept the ship afloat whilst the knifemen sat and waited.
Ashton/Simpson make me feel quite benevolent towards Jack Petchey and that is saying a mouthful!
Has Taxless Ashcroft ever actually been to a Watford match?

SAHornet wrote:
It surely must be possible for Sir EJ to pay-off VGS and collect it back from the rights issue a few weeks later? That way - no administration. Or am I being too simplistic? Comments please.
ps: security word "cash-shot" can you believe it?

Lord A could do a short term loan and be paid off by the rights issue as well. It would cost him exactly the same but do two things: 1. save us from administration; 2. put the Russos in their place (which is what Lord A seems to want). They will have their money and will then be faced with the same choice they have now regarding their shares - buy more or risk dilution. BUT - they couldn't force administration because they'd have been paid their £4.88m So it will cost Lord A the same amount if he paid it off now or waited for a rights issue. So Lord A could get rid of the short term problem at NO EXTRA COST - if he doesn't pay them off then its administration - does he want this to happen?

Galsgow, despite the snow clouds I see there is clear thinking and transparency north of the border.

It is so simple to see through the unimaginative spin of ashcroft. We know it is the season of panto, but to all of a sudden turn Jimmy into the 'baddie' is pure deluded fantasy.

Patronising and out of touch twerps like Richard (hip hip hooray come on the golden boys!!!???'') and other clappers taken in by ashcroft and simpson would of course prefer to ignore the unsavoury truth.

Galsgow...problem is does he care.

I just hope Malky and the boys can rise above all this and do the business at Peterborough

Galsgow...problem is does he care.

I just hope Malky and the boys can rise above all this and do the business at Peterborough

WFC4ever wrote:

MIBSWE wrote: JR is asuccessful businessman. He has rescued Watford while Ash & others sat idley by. It is no coincidence the club went downhill when JR was voted off the board a couple of years ago. So, let's not jump the gun here. How many of you would let an adversary take control of the club while costing you hundreds of thousands if not more? If Ash had been serious about saving the club, he would have intervened much earlier. Simo says nothing and Elton who has millions could save the club without a dent to his wealth. So ask him why he won't bail out Watford? The simple fact is that today no-one is prepared to buy the club, unless they get it at a large discount. Remember, the club is still losing 1 mill a month!! Maybe, in hindsight Administration could in the long term work out better than having Ash as a majority owner who seems to have no interest in WFC.

I suppose it would just be nice to have a board that care about the club and don't have any personal issues with shareholders. Personal,ly although I would've been happy for Ashcroft to help my concern may have been what love does he have for football etc? Maybe GT will help us get a real football guy in who will think about the fans.

The problem is there are very few,these people are business people.Its an investmant for them it's not about the passion of the fans or the football. We were lucky back in the day to have had a chairman such as elton john a true sports person who had just as much passion for the club as the fans had. GT the only man really to take us forward

Just seen the live Sky interview from Graham Taylor. It removes any shadow of doubt surrounding the behaviour of the Salad Bros & they are being shown up for what they are; that is self serving, small-minded individuals with massive egos, but without any real care for the future of the club.
Taylor's interview also confirms the Russos have been highly economical with the truth and they obviously thought they were the only game in town. Let's hope GT is able to convince them to back off or fight off the immediate threat of them pushing us into administration. I hope all true WFC supporters will now start to see the truth, "Let there be light"

Glasgow is correct, but either party could resolve the issue and be no worse off this is purely a game of brinkmanship with our club. The end result is that the ego of all parties will take our club into administration, unless one party is prepared to see sense – this can be either party.
Both sides have rights and wrongs – but surely Watford FC can’t be allowed to go into administration because people can’t see sense.

Richard of Farnham---we have all seen GT'S interview and Jimmy Russo's but have we seen any interview from Taxless Ashcroft or Simpson?
No of course we havent so dont be so bloody naive!

Where were the majority shareholders this past year and why did they let JR pump more and more money in, to then secure it against the ground when they could have acted first?! Simpson, Ashton and Boofers are to blame... No one else! They had the golden ticket and all its trimmings, but have blown the lot and then some! If admin exposes where all the money went, then I'm all for it, but with great sadness due to the great season so far. I have watched Watford for over 30 years but will not step in side The Vic again until Simpson is removed!!

Don't actually think it's me that being naive. Why do we need an interview from Ashcroft, his rescue proposal has been put to the Board, explained and accepted as the best option to move forward. Business is not like X-factor and should not be conducted over the TV airwaves, Russo has resorted to this in order to court popularity and paint himself as the victim just because his own proposal didn't measure up. However judging by the reaction of some on this site he is obviously succedding. Have trust in GT; he is not Ashcroft in disguise by the way and only cares about the future football club. All will be revealed in time I'm sure.

Why are the Russos whining about not having a place on the board. One was chairman and the other vice chairman until they acted like a pair of three-year-olds and quit.

And what evidence do we have that they were going to be voted off? They seem to be the only ones saying it.

JR should stop with the melodrama and, if he doesn't like being a minority shareholder, flog the lot to the other mob.

And another thing...the 4.88mill they are owed is roughly equivalent to what we've laid out on Ellington in transfer fee and wages. Cheers, Aidy.

Why bring Boothroyd into it? He was on the football side and pretty successful too if my memory is correct. Taylor is out of his depth on this stuff and would be better saying the minimum, he is a football man too. None of us know enough to take sides in this, we can only watch and wait and hope..

This is amazing, the club is on the brink as all we can do is play a blame game!!!

Twice promoted to the Premier League and twice lost all the money. If we ever got promoted again, could we keep the TV money it brings, but stay in the Championship?!

Richard the best solution is the one that allows us to avoid administration and to go forward on a sound basis.

The Fordwat offer is for obvious reasons totally unacceptable to the Russos

I believe it was made knowing that it was and is an attempt by Fordwat to discredit the Russos and has been
approved by our board who have been poorly advised by the Nomad.

It is only good for the club if it works and it patently doesnt.

Its funny how allegiances can so quickly change by the colour of money.

Cashcroft/Homer have stayed totally silent for almost a year, letting the R's struggle to keep the club afloat alone. Suddenly when it suits them they, without any reason given, decide to vote the R's off the board and with no published strategy or agenda to take the club forward; purely vindictive.

Everyone within the club had given up on Lord A, and looked to the R's to continue to help. Then miraculously Lord Cashcroft comes up with a proposal that gives the club a short term fix and him ownership without buying existing shares, and without any statement of his true intentions, and suddenly the R's are being villified for protecting their own interests.

They have been treated disgracefully almost from day one, particularly by Homer, who has stayed silent throughout all this, and yet he is the one who has brought all these problems about from his disasterous chairmanship. My loathing of him and all that he has done to our club knows no bounds.

My support is with the R's as was most of those attending the AGM. Unfortunately by now waving £7.5m in front of their eyes some people have been bought off. No moral fibre at all.

3 points tomorrow at the Posh please MM.

Chris the Vic, At last someone who is spot on!

Anyone with an ounce of sense can see Tory Boy's offer is a joke!

Why won't he or his reps take up RB offer of sitting around a table to sort this out. Remember this club could have gone into administration 3 times in the last year and it was the RB who put their money in NOT Tory Boy or Gimpson. I would not take this offer up either as they are having the p*** taken out of them!

GT needs to pull his head out from his up his a***. Would he take up the Tory Boy's offer?

Chris the Vic, At last someone who is spot on!

Anyone with an ounce of sense can see Tory Boy's offer is a joke!

Why won't he or his reps take up RB offer of sitting around a table to sort this out. Remember this club could have gone into administration 3 times in the last year and it was the RB who put their money in NOT Tory Boy or Gimpson. I would not take this offer up either as they are having the p*** taken out of them!

GT needs to pull his head out from his up his a***. Would he take up the Tory Boy's offer?

Chris the Vic, At last someone who is spot on!

Anyone with an ounce of sense can see Tory Boy's offer is a joke!

Why won't he or his reps take up RB offer of sitting around a table to sort this out. Remember this club could have gone into administration 3 times in the last year and it was the RB who put their money in NOT Tory Boy or Gimpson. I would not take this offer up either as they are having the p*** taken out of them!

GT needs to pull his head out from his up his a***. Would he take up the Tory Boy's offer?

Never trust a Tory. Ashcroft is piling money into marginal constituencies including Watford to win these seats for Cameroon. Why did he buy in, in the first place, only to try and make more money, (that's all Tories do at everyone's else's expense).

Njoy, sceptic, sir les and many others that clearly can see through the 11th hour unimaginative salvo from ashcroft.

You are wasting your energy on patronising, incompetents like Richard from Farnham, who thinks he is 'knowledgeable' because of a few technical words thrown in here and there but clearly is a first class amatuer, who will keep singing the praises of his puppet masters until he is blue in the face - excuse the pun.

As I have repeatedly said before, those with thinking ability, will see this for what it is, an ashcroft and simpson self created and humiliating debacle.

This situation was PREVENTABLE, do not get sucked in to the nonsense being offered up by the club's current management. This sadly includes people like Malky who appears to have also got on board the new spin machine - we appear to be going back to the climate of spin and mistrust experienced under the simpson-ashcroft/ash
ton/hoofroyd regime.

This so called 'pressure' on Jimmy from turncoats such as the CEO and others who have either been 'programmed' by the ashcroft spin machine or are out of their depth (sorry GT) is risible and clearly would offend any one with an inkling of intelligence - not to mention people that have put up 5m of their own funds and potentially lose further from dilution of shareholding.

Try as they might, in my view, no amount of money or bull-sh*t propoganda can ever repair the tattered reputations of simpson /ashcroft and other puppets under their control.

What ****.

After the disaster that is New Labour thats sunk the UK good and proper, the Tories are utter angels.

Especially today.

If Tory Boy or Gimpson cared about Watford they would have met a long time ago when it was clear WFC was in trouble! It was Gimpson who put WFC in this mess!!

The RB have started to turn this club around with sensible cost cutting. They went up in my estimation with the good transfer fees they got this summer as well as saving the club 300k from cashton. Remember Caston was appointed by Gimpson who insisted we were lucky to get him because Man U wanted him, Yeah right! that's why he went to that glamour club Wycombe!

Let me ask myself,was it not Gimpson that sold Robinson for 250K to West Brom. Gary Megson said he could not believe the price they got him for!
Do we really want this liar & Buffoon anywhere near running this club again?

supanova

maybe you are in outer space building a tory colony for ashcroft

You clearly are a blue tit are'nt you - I suggest you leave politics out of this and take your head out of your uranus

Graham Taylor speaks from the heart and I don't blame him for that....but he will not lose any money in the Ashcroft offer. Elton John has the means to invest, but he resigned as President of Watford when he saw what Homer etc were doing to the club. He then came back with GT on board when the Russos returned....So, he won't invest any money while certain people are involved in the club.

Ashcroft is not a footie fan...he invested as a favour to Homer to help him out when it was needed. While I dislike Homer.....he did help turn the club around after the Vialli/ITV debacle....and he took a risk on Boothroyd who got us into the Premiership first time!! But, he messed it up big time and should no longer be involved.

Russos are using the threat of Administration to force the issue of the lack of funding in the club and to get the shareholders around a table to sort out the problem! As long as they talk and act like adults...a solution will be found. But, if Ash and Homer act like the Unite union leaders or BA Board....Russos will pull the plug......cause we will run out of money on the 22nd Dec anyway....regardless if Russos get their money back or not!

No-one on this forum is seriously telling me that they would let Ashley dilute their shareholding, which in effect will lose them a couple of million. It's called a "rights issue", which means that new shares are issued, which lessens the value of the current shareholders. At this point, I can't see how Ashley could make money out of this anyway. WFC is not a profitable club and he can't sell the stadium for housing without finding another place for WFC to play....and that costs money and would require planning permission from the council!!

So, let the Russos buy the club as long as their offer is fair and based on a true market value, which isn't that much considering the virtually own the stadium. Then move on. Ashley doesn't live in this country and Homer is an out cast as far as WFC are concerned. So, let Russos buy it, especially as they have worked hard to provide the financing.

GT is doing himself no favours aligning with tory vipers.

CaptainPC wrote:
GT is doing himself no favours aligning with tory vipers.

tosh, when you're choking down your lettuce grown behind the new luxury flats at VR, tell me again you trusted the two amigos

Chris the Vic wrote:
Duckfan Forwat are willing to put in 7.5 m less costs if other shareholders dont subscribe. By doing this they can effectively own a proportion of the club which gives them control through the backdoor and costs the Russos between £2m and £4m by leaving them with a minority share that will have no power. To do this which is obviously not in the Russos interest they are asking the Russos to leave their loan in for a couple of months to give the rights issue time to be set up. In essence Ashcroft wants Russo to cut his own throat. This is obviously not fair. Ashcroft can now let the club go into Administration and risk an auction with the Russos if they want to stay involved or he can take the loan over immediately and repay it out of the rights issue thus avoiding administration. What would have been the sensible way of doing all this was for one party to buy the other out, assuming they cant work together, but that of course under AIMS rules would have forced the buyer to open up the offer to all shareholders. So as you can see Ashcroft is trying it on through the backdoor. Then under Ashcrofts scheme if the Russos loan were to be repaid, in less than three months we would again run out of cash unless we sell players for about £3m and at that time Ashcroft could take over the stadium and a year later I suspect the bulldozers would be in making the Russos total losers and heaven knows how much profit for Ashcroft. And there you have my problem with the offer,unfair and short term. What we need is all parties to sit down and put WFC first with a fair and reasonable plan for all, but then that would destroy Ashcrofts strategy which is exactly why unless he can be shamed it will not happen.

Do you want Administration or 7.5 million from Ashcroft? Simple Yes or No? I say take the cash!

Chris the Vic wrote:
For heavens sake get real.

Fordwat did nothing for our club and then made an offer that was totally in their favour and totally against the interests of the Russos.

If Taylor and Co had done their job earlier and better we could have avoided this.

Make no bones about this GT is the top man for what he achieved on the pitch at WFC. He is a makeweight when it comes to finance.

Russo did a lot for us as chairman dont forget it. Now to avoid Administration forget what GT says and clear your heads.

Fordwat now eventually that they are negotiating need to come back to the table with an offer that doesnt screw Russo.

It is possible for them and the Russos to come out of this happy, by either combining their efforts and work together or for one to buy the other out.

Jimmy made an offer to buy out Fordwat and Homer, GT and the rest of the board have yet to indicate their acceptance or refusal of this why...and if Fordwat are to take control which Taylor seems to favour let them make an offer to buy out Russo on the terms he offerred them.

Graham and co need to sort out the wood from the trees...either a non exec is biaised or the nomad is suspect and performing below expectations with advice.

If all the parties can take a sensible pill this can be sorted out but at the moment I will say Taylor has it wrong and he and Fordwat are not doing WFC any favours.

Fordwat backed Homer and we know where that got us and who with the interests of the club at heart would be ready to vote the Russos off the board, then when they resign offer no replacements and take a year to make any gesture of help. In meantime GT accepted a role on the board says nothing until two days ago...maybe too busy with his media commitments.

The Russos were good for this club and sweated buckets committed money etc and Ashcroft has done sweet FA except block the Russos when they wanted to buy the whole club.

And with all that so many of you condemn the Russos...get real, look at the facts and hand on heart who do you think is best in the boardroom for us. Chose between GT/Russo/Homer and or Ashcroft....based on actions there is only one person you can back

Chris

The only side GT is on is WFC. At the present moment the Russo's are likely to place the club into administration when they don't have to.

Their behaviour in recent days has confirmed what many of us suspected all along; namely, they are hard faced businessmen engaged in the task of making money, just like Gimpson and Ashton.

They're all rotten my friend.

GT is speaking with his heart and the majority of supporters, i suspect, back his remarks entirely.

What will happen regarding the loan Russo gave which runs out on the 22nd?

Lead to players not being paid or administration anyway?

I am sure GT just wants best for the club from whoever comes in to save our club as administration could be really bad on and off the pitch unless the Russos for example are going to buy back the club but would they bother?

Must sat having a man like Ashcroft who has little interest in the club or football as a whole would hardly fill me with confidence if he got board in a few months/years?

Russo on 3CR said no response has been forthcoming from Lord Ashcroft's company and even the club haven't got in contact so it doesn't looks too good.

:(

Russo on 3CR said no response has been forthcoming from Lord Ashcroft's company and even the club haven't got in contact so it doesn't looks too good.

:(

WFC4ever

Point noted and I'm humble enough to accept that my comments may have been a tad harsh, but you can guess I am not a big fan of Richard's.

If you've read my previous contributions then you would know I have made objective and constructive points.

For those of you who are taken in by comments such as Richards;

I do not wish to bring party politics to this discussion as I do not see any relevance.

As has been stated previously, and sorry to spell it out in simple terms, but the majority shareholders ashcroft and simpson allowed the 30% shareholders (the russos's) to take a punt with £5m. These funds were loaned from VGS, the Russo's fresh produce business.

During arguably the most financially serious period in the clubs recent history, where we started this term as relegation candidates, who chose to sit back and contribute zilch to help the club????

Now at the eleventh hour ashcroft is somehow being hailed by some as a saviour? - this is fantasy, please WAKE UP

Panic over. Sky News is reporting that Russo has accepted an improved offer from Lordy. He gets his loan repaid. No other details released yet!! Phew... Now back to football....I hope!

At the end of the week three points would be so good.

Now we have to trust in Ashcroft and God and they are two separate entities.

Lets put our support behind GT he deserves it. Without his standing in the game and comments on sky earlier today this may never have happened.

Billie, kings langley. Who are you?. you are a blind clown. The fans don't know half the truth about how he has run the club.