Jimmy Russo and Lord Michael Ashcroft reach Hornets agreement (From Watford Observer)
Get involved: send your pictures, video, news and views by texting WO to 80360, or email us
Jimmy Russo and Lord Michael Ashcroft reach Hornets agreement
7:54pm Friday 18th December 2009 in
Watford fans can breathe a huge sigh of relief tonight after their club was saved from administration.
Former chairman Jimmy Russo has accepted an offer from major shareholder Lord Michael Ashcroft to repay the £4.88m lent to the Hornets.
Russo who, along with his brother Vince and close business associate Robin Williams resigned at Tuesday's annual meeting, had threatened to put Watford into administration after rejecting the terms of a £7.5m right issue proposed by Lord Ashcroft's Fordwat company yesterday.
But a deal has now been done and Russo told BBC Radio 5 Live tonight: "I'm relieved to have all this sorted out but it's disappointing it has taken so long.
"It has rescued the club and it is good for the club and I'm delighted. I didn't want to put them into administration.
"I wish the football club all the best and they have got a good future."
Despite this positive development Russo hit back at interim chairman Graham Taylor for labelling him a "bad man" following this week's events.
"I thought that was a disgraceful comment," his predecessor reportedly said. "He should have been more selective with his words.
"How can somebody who has rescued the club four times, have a contribution of £9m in the club, never been paid a penny ... become a bad man?
"I think Graham should apologise for that comment. I think that was totally out of order, and I don't think I deserved that.
"He should really look at that again and pick up the phone - if he's big enough."
Comments(80)
says...
Derek Payne
says...
7:56pm Fri 18 Dec 09
GrahamTaylor
says...
8:05pm Fri 18 Dec 09
sebellson
says...
8:07pm Fri 18 Dec 09
Holly68
says...
8:07pm Fri 18 Dec 09
I am disappointed that you guys are not in charge, rather than a guy (admittedly loaded) but doesn't even watch the team
Respect to the Russo's
Chris the Vic
says...
8:22pm Fri 18 Dec 09
Sincere Respect
yellowredblack
says...
8:24pm Fri 18 Dec 09
Loyal Supporter
says...
8:26pm Fri 18 Dec 09
dorsethorn
says...
8:27pm Fri 18 Dec 09
BIG THANKS VINCE
dorsethorn
says...
8:30pm Fri 18 Dec 09
Hornet Cornet
says...
8:40pm Fri 18 Dec 09
martin62
says...
8:56pm Fri 18 Dec 09
watfordkev
says...
9:02pm Fri 18 Dec 09
MIBSWE
says...
9:11pm Fri 18 Dec 09
Thanks to the Russos for keeping the club going and saving it from Administration for the 4/5th time. At least now (I hope) we have a unified Board and adult decisions will be made. Whoever you are Lordy... I thank you for what you have done and hope you run the club for the interests of the fans and community and your motives are good for the long term future of WFC.
wide old hornet
says...
10:10pm Fri 18 Dec 09
Can you blame them, as they have been trying to get funds to run the club, for a long time now.
Now they will have no dealings for the club, will we be better off.
Were we before...
Lets hope so....
Time will tell..
Lets get behind the team and we shall see..
Billie
says...
10:21pm Fri 18 Dec 09
The same power base that proved so unpleasant and frankly, misleading to shareholders is back in charge. It beggars belief that GT, our hero, can have suggested the Russo's were 'bad'. These guys approached an AGM, having made a huge contribution (as admitted and acknowledged by GT), aware there was a premeditated ambush waiting to vote them off, despite their investment and despite the lack of support for our club by other Directors and the majority shareholders. For the second time. So they resigned before they were publicly humiliated. I am sorry Graham, but if that makes them bad, the assassins lying in wait are evil. I am astounded you associate yourself with them. You stood for all that was good when managing our beloved club. It has been suggested the brothers were bully boys. Where is the evidence? Despite cost cutting and redundancies, there has been no list of dissaffected employees, no compromise agreements, no threats of legal action, no legal suits from kit suppliers, no Gibbsy getting fired at the worst possible time, no Chris Cummins getting screwed, no fallout with the WO, it goes on and on. This happened on Simpson's and Wilson's watch. You quote EJ, but he was pretty quickly back in the fold when Simpson and Wilson became history. Don't forget fellow fans, these were the people who represented the power base which is alive and well. With the brothers involved, we had not one, but two bright spells, just like we had with GT. Promotion from adversity, and then this promising season, from even deeper adversity. The old regime are back in power, make no mistake. I do know the Russo's personally, and, whilst human with the frailties that go with that, have always found them thoroughly decent, honest, reliable, fuuny, smart, with a great knowledge of football. Not perfect, and they wouldn't claim to be. Human beings, accessible and visible to the fans. We could understand them. People look for motives, but there were none other than to have a good time getting WFC as far as they could get it, within a limited but pretty decent budget. Make no mistake, we are poorer without them. Either way, WFC have a few quid, a lot of quid to be honest, in the short term, but make no mistake, our club is poorer tonight in the longer term. Our reputation is in tatters, and the suspicion is back. What are the motives behind this? Yet I am relieved. In a way I am not bothered where I used to be very bothered indeed. I am not bothered what others make of all this, the purile vOr with his prejudices and filth will no doubt be on to attempt personal insults as is normal, he will be well pleased. What does that tell you. Do WFC really want people like that associated with them? Whatever, I have my own opinion, one which I hold very strongly, and the obsession (my dear wife's word) that I have for WFC is cured, and that is despite GTs involvement. He definitely got this one wrong, even if the end result appears to be a solution. Thanks Jim and Vince for your efforts, Robin, Oli Phillips and Kevin Affleck for doing your job, the old FD for having the courage to speak out etc. etc. To quote Simpson at the EGM on his exit, let time judge his Chairmanship. I say the same now in respect of Jim and Vince Russo. The jury is firmly out on Julian Winter by the way. Who appointed him?
There was only one Scully
says...
10:30pm Fri 18 Dec 09
Dont trust one bit the M'Lud and his side kick and I want to see what the bigger picture presents. Cant help but think when JR gave his good wishes it was said with his tongue in his cheek.
There was only one Scully
says...
10:30pm Fri 18 Dec 09
Dont trust one bit the M'Lud and his side kick and I want to see what the bigger picture presents. Cant help but think when JR gave his good wishes it was said with his tongue in his cheek.
There was only one Scully
says...
10:30pm Fri 18 Dec 09
Dont trust one bit the M'Lud and his side kick and I want to see what the bigger picture presents. Cant help but think when JR gave his good wishes it was said with his tongue in his cheek.
There was only one Scully
says...
10:31pm Fri 18 Dec 09
Dont trust one bit the M'Lud and his side kick and I want to see what the bigger picture presents. Cant help but think when JR gave his good wishes it was said with his tongue in his cheek.
MrMfatic
says...
10:35pm Fri 18 Dec 09
True that we will still have to see what the future brings but thanks GT,JR and Ashcroft.
Putting personal feelings aside we survive to fight another day.
bomber18
says...
10:38pm Fri 18 Dec 09
Derek Payne wrote:Thanks? For what, acting like spoilt kids and being responsible for all the concerns of supporters.There was no reason what so ever for their "blackmail" statements. GT you got this one absolutely correct.All I hope is the Russos disappear to the Kings Road in the knowledge that they didn't GIVE anything to WFC only bad publicity.Maybe they can get involved with their true love,where the money they loaned Watford(at a nice little profit)wouldn't pay for a ball boy!!
excellent - thanks Jimmy and Vince.
Wags it all about?
says...
10:42pm Fri 18 Dec 09
Excellent post as usual. We are back where we were before with the belize tax exile at the helm and all what that stands for.
None of this will change the mindset of those of us who have seen through this sorry saga.
Thanks Jim & Vince, you did some good work during your tenure.
Will be watching the 'new' board with interest...l
MrMfatic
says...
10:44pm Fri 18 Dec 09
For one i am grateful he was involved. I feel sorry for JR he has done a lot for the club and would be happy if he came back as chairman.
If he doesn't (unlikely) good luck JR and thanks.
If not i hope GT carries on there is a person with the interests of the fans at heart.
The Chef
says...
10:56pm Fri 18 Dec 09
luther blissett
says...
11:13pm Fri 18 Dec 09
luther blissett
says...
11:17pm Fri 18 Dec 09
One Graham Taylor, there's only one Graham Taylor.
Elton Johns Taylor Made Army (I can remember away games in the 80's where we would sing this for 45 mins at a time)
We'll Support you ever more.
WFC4ever
says...
11:28pm Fri 18 Dec 09
Hopefully we'll see what else Lord Ashcroft and whoever comes in do in terms of helping the club.
Hopefully like the Russos they'll talk and listen to the fans.
Such we had to be saved from administration via a very public slagging much of which will do damage to a lot of people invovled but at least our club appears safe for now..
a1derek
says...
11:32pm Fri 18 Dec 09
I have also heard that maybe an anonymous (at the moment) third party was involved in hammering this deal through.
As for GT he has, once again, stood up for WFC and what he feels to be right. How anyone can suggest that GT is at fault in any way is beyond me.
I have no doubt that if it hadn't had been for his involvement and the third party, whoever that might be, JR would have pushed the admin button. I think some serious pressure has been brought to bear on JR today to provoke the sudden change of heart.
The Russos played their hand the best they could given their circumstances and they lost. I don't think we will ever know their real agenda.
The club is "saved" in the short term and for that I am grateful. But as I have said previously I am no fan of the Good Lord.
The Russos agenda may well turn out to be preferable to that of Lord A in the long term...this still has some way to run I feel!
As for the rumour we are reverting to the old blue kit and our new sponsor is the Tory party, I couldn't possibly comment.
yellowbelly
says...
11:39pm Fri 18 Dec 09
There was only one Scully
says...
11:39pm Fri 18 Dec 09
Not convinced that this is the long term answer. I err on the side of caution.
At least Malky wont have a problem with an interfering owner when, he can only spend 30 days here!
MrMfatic
says...
11:45pm Fri 18 Dec 09
a1derek wrote:Well said happy at Ashcroft probably not but will give him benefit of doubt to see how we progress. Happy that GT made this go forward to save our immediate future yes. The guy is a proper Watford man and anyone doubting him is wrong. And id love to see him stay on as chairman as i would to see Jimmy still involved.
I think Luther has hit the nail on the head Ashton was the problem. If the truth came out his deals would not stand up to scrutiny at any level.
I have also heard that maybe an anonymous (at the moment) third party was involved in hammering this deal through.
As for GT he has, once again, stood up for WFC and what he feels to be right. How anyone can suggest that GT is at fault in any way is beyond me.
I have no doubt that if it hadn't had been for his involvement and the third party, whoever that might be, JR would have pushed the admin button. I think some serious pressure has been brought to bear on JR today to provoke the sudden change of heart.
The Russos played their hand the best they could given their circumstances and they lost. I don't think we will ever know their real agenda.
The club is "saved" in the short term and for that I am grateful. But as I have said previously I am no fan of the Good Lord.
The Russos agenda may well turn out to be preferable to that of Lord A in the long term...this still has some way to run I feel!
As for the rumour we are reverting to the old blue kit and our new sponsor is the Tory party, I couldn't possibly comment.
Will not be at Peterborough tomorrow but will be chanting GT's name on boxing day hope everyone else is the guy deserves it.
WFC4ever
says...
11:56pm Fri 18 Dec 09
a1derek wrote:Elton maybe had a quiet word?
I think Luther has hit the nail on the head Ashton was the problem. If the truth came out his deals would not stand up to scrutiny at any level. I have also heard that maybe an anonymous (at the moment) third party was involved in hammering this deal through. As for GT he has, once again, stood up for WFC and what he feels to be right. How anyone can suggest that GT is at fault in any way is beyond me. I have no doubt that if it hadn't had been for his involvement and the third party, whoever that might be, JR would have pushed the admin button. I think some serious pressure has been brought to bear on JR today to provoke the sudden change of heart. The Russos played their hand the best they could given their circumstances and they lost. I don't think we will ever know their real agenda. The club is "saved" in the short term and for that I am grateful. But as I have said previously I am no fan of the Good Lord. The Russos agenda may well turn out to be preferable to that of Lord A in the long term...this still has some way to run I feel! As for the rumour we are reverting to the old blue kit and our new sponsor is the Tory party, I couldn't possibly comment.
Ofcourse we hav eto see what the future brings but as I say at least Malky and co can worry about on field issues rather than if they were doing to havbe a job soon (remember administration would have meant loads of normal guys and girls like us in the background of the club losing their jobs..)
Feff
says...
12:44am Sat 19 Dec 09
surreyhorn
says...
12:48am Sat 19 Dec 09
They proved themselves good businessmen and did a lot to right the mismanagement of the previous regime however they were prepared to take the club to the point of disaster.
The only person to come out of this with any credibility is GT.His views were based on his love for the club.
It may be out of the frying pan into the fire but I for one won't forgive the Russos.
All their money was secured on the ground and they have obtained a lot of publicity.They have shown that they were only in it for themselves.
derry pigweed
says...
1:10am Sat 19 Dec 09
Feff wrote:Homer ruined watford not the Russos!
The Russos bluff was called in this game of poker. I do not understand all the postings that defend them. Jimmy Russo threatened to put us into administration. Graham Taylor persuaded Lord Ashcroft to prevent this. There are two heroes. GT and Lord Ashcroft. Let's now forget about the Russos, who were in it purely for their own personal glory. What a disgusting threat they imposed. Let's support the new board, whoever its members are.
derry pigweed
says...
1:12am Sat 19 Dec 09
surreyhorn wrote:Homer ruined watford not the Russos!
I can't believe there is so much support for the Russos. They proved themselves good businessmen and did a lot to right the mismanagement of the previous regime however they were prepared to take the club to the point of disaster. The only person to come out of this with any credibility is GT.His views were based on his love for the club. It may be out of the frying pan into the fire but I for one won't forgive the Russos. All their money was secured on the ground and they have obtained a lot of publicity.They have shown that they were only in it for themselves.
Holly68
says...
1:34am Sat 19 Dec 09
short term win, long term lose
there maybe trouble ahead !!!!
pfwhornets
says...
1:35am Sat 19 Dec 09
When you became interim chairman I knew we would be ok. You represent everything that is decent and honest about WFC. Your passion, your honesty and your sincerity. You are the true and only voice of the fans. You were right to say that JR was "bad" at the time. It was what most of us were thinking and you let him know it. You do not need to apologise. Your stand made JR back down and I seriously think he would have gone ahead with his threat to call in his "loan".
So out of trouble in the short term and better off as we don't have to pay JR interest each month any more.
JR, if you want to help Watford then invest money into us, interest free without strings attached. Just like Elton did on many occasions. We may want you back on the board then and you may earn your place in the clubs history.
Bush Hornet
says...
1:42am Sat 19 Dec 09
Whilst Jimmy Russo tried to endear himself as honest and upfront he's also been undignified and resentful with his regular verbal attacks against the previous regime. (Simpson made some big mistakes but didn't deserve the constant disrespect that Russo dished out. Simpson is a Watford fan whose power went to his head, and who wrongly appointed Ashton).
Jimmy & Vince might be fairly successful businessmen and maybe Jimmy could have done a decent job as chairman, given time. But he's also a bit of a maverick without an awful lot of money to put in. And everything he put in had to be returned with interest. Can do without his self-importance and self-interest. His ego was bigger than his overall ability.
I feel no loss at his departure, just as I can't get excited about the Lord "moves in mysterious ways" Ashcroft. Just feel slightly embarrassed about the childish behaviour really.
And no, Graham Taylor does not owe Jimmy Russo an apology - but that's not to say that GT won't apologise. He might do that, because he is a big man. It's a shame for Jimmy that he has walked away from a man like Taylor who has class and from whom he could learn something. But personally I am happy to say bye bye.
Billie
says...
8:57am Sat 19 Dec 09
Bush Hornet wrote:Except that it was Jimmy as Chairman who invited GT on to the Board. Except that the R's did not back down. Their loans are rightfully being repaid after the way they have been shafted twice. Time will tell, but the way this change has come about is throughly shabby. And yes, GT does owe the Russo's an apology. I only hope he did not know about the plot. He has always struck me as an honest man but if he did know of the plot and still criticised Jim as being bad, that would be to his eternal shame. I sincerely hope that is not the case.
Have to say that I'm not sad to see the back of the quite bitter, Chelsea-supporting Russos. Whilst Jimmy Russo tried to endear himself as honest and upfront he's also been undignified and resentful with his regular verbal attacks against the previous regime. (Simpson made some big mistakes but didn't deserve the constant disrespect that Russo dished out. Simpson is a Watford fan whose power went to his head, and who wrongly appointed Ashton). Jimmy & Vince might be fairly successful businessmen and maybe Jimmy could have done a decent job as chairman, given time. But he's also a bit of a maverick without an awful lot of money to put in. And everything he put in had to be returned with interest. Can do without his self-importance and self-interest. His ego was bigger than his overall ability. I feel no loss at his departure, just as I can't get excited about the Lord "moves in mysterious ways" Ashcroft. Just feel slightly embarrassed about the childish behaviour really. And no, Graham Taylor does not owe Jimmy Russo an apology - but that's not to say that GT won't apologise. He might do that, because he is a big man. It's a shame for Jimmy that he has walked away from a man like Taylor who has class and from whom he could learn something. But personally I am happy to say bye bye.
Billie
says...
9:04am Sat 19 Dec 09
dubaihornet
says...
9:19am Sat 19 Dec 09
Good point well made. Let us be very clear it was VGS that made the loans to us and the Company Law requires that company for the sake of its creditors takes the necessary precautions to ensure that such a loan is secure and that the right reward is received otherwise the Directors of VGS could be personally liable. Whether the Watford shareholders make interest loans or not is a personal choice and SEJ obviously did not decide to charge. Fordwat is a company that is a shareholder and again if they were to make an interest free loan company law issues are involved. In short individual shareholders like SEJ can make such a loan without worry. Not sure about the Russo's do they own the shares in their name or in the name of VGS. If in their name then they could make an interest free loan if in VGS then they could not safely give such an undertaking.
Whilst I am glad the Russo's were there, remember they are business men . I am sure they have not lost any money on their tenure only the time they have spent in the club.
Unlike SEJ GT Ashcroft who have the club at heart ( i know some of you do not like Ashcroft but we are still playing football today 10 points higher than JR indicated) Russo's were in it as a business first shareholder second ego third and finally as fans?
neilhorn
says...
9:19am Sat 19 Dec 09
dorsethorn
says...
9:24am Sat 19 Dec 09
Billie
says...
9:48am Sat 19 Dec 09
neilhorn wrote:He wanted his money back because it was his life's work and he was subject to a plot. Jim deserved better and GT compromises himself if he knew what was going on. History has no bearing on whether human behaviour is acceptable. Like everyone else I hold GT in the highest esteem but that does not exempt him from having his own behaviour questioned as long as it is in the appropriate manner. Is he exempt from speed limits on the road? This is a cause and effect scenario. If there was a plot and Jim and Vince responded, the plotters created the situation. Either way, the debt is repaid and the club is now back in the control of Ashcroft/Wilson and Simpson. Cause for celebration? I don't think so! Notwithstanding, good luck Malky and the boys. They also deserve better, as long as their own financial demands are commensurate with what the industry can afford.
listen - Russo said he would put the club into Admin PURELY AS A TACTIC. He used our club and its history to get his own way. So anything that gets said about him by GT, who created the history we are proud of, is fair game. No apologies. Take the club to 2nd in the PL Jimmy, take it to the Cup Final, take it to Europe.... then you can complain about Taylor, but not till then
Wags it all about?
says...
9:58am Sat 19 Dec 09
Accept the reality that their are people on this forum that clearly have little understanding of what really went on during this past year.
Some of the comments do not even deserve a reply
Those people who think the Russo's 'lost' this game of poker have been watching too much casino Royale
Will not be bothering to respond again to the brain dead
WFC4ever
says...
10:06am Sat 19 Dec 09
Lets hope the club have a brighter future but as you say we need to hear more of what is going to happen from whoever comes in because we are still going to have a short-fall come the summer hence a probably fire sale in Janaury BUT on our own terms rather than through administration.
Toshhorn
says...
10:41am Sat 19 Dec 09
Oxhey Village Hornet
says...
10:51am Sat 19 Dec 09
Holly68
says...
10:56am Sat 19 Dec 09
I spoke to Jimmy yesterday morning, he assured me he was NEVER going to put the club in ADMIN, it was the ONLY leverage he had to force Ashcrofts hand, which has now worked.
There are alot of other concerns I have that Jimmy shared with me about said individuals who remain in power !!!! And probably still will ....
I will speak with him again and THANK HIM VERY MUCH for ALL he & Vince have done from those of us who RESPECT them and KNOW they had GOOD HEARTS !
Holly68
says...
10:56am Sat 19 Dec 09
I spoke to Jimmy yesterday morning, he assured me he was NEVER going to put the club in ADMIN, it was the ONLY leverage he had to force Ashcrofts hand, which has now worked.
There are alot of other concerns I have that Jimmy shared with me about said individuals who remain in power !!!! And probably still will ....
I will speak with him again and THANK HIM VERY MUCH for ALL he & Vince have done from those of us who RESPECT them and KNOW they had GOOD HEARTS !
herts hornet
says...
10:56am Sat 19 Dec 09
spidey
says...
10:56am Sat 19 Dec 09
Simple fact is this, The Russo's rejected Ashcrofts proposal because it would affect their original investment and they would have lost millions, they kept the club afloat whilst oters stood by and watched, within the last month they loaned the club another million to keep us afloat and have done so on many occasions, the other shareholders did nothing, then waited till it got to the last minute and tried to side swipe the Russo's and screw their investment, J&V now have their loan repaid in full so you can hardly say they lost ... I for one can see the hard work they put in, I have sent emails to both Simpson (on numerous occasions) and Russo (2 times) voicing my concerns about the club, the only reply I ever had was from Russo who took the time to reply and try to ease my concerns, if he did not give a Sh8t he would have just ignored me..... I understand GTs comments although he could have chosen the wording a bit better, he looks in from a non financial position and will always hold the club close to his heart, however would he have been so open if he was to lose millions? I dont think so !!!
The questions should now be, who is in charge? & where does this change leave us, finacially & moving forward?
I really need a statement telling us what our future plans are!!! ...
Only 2 Ross Jenkins
says...
10:58am Sat 19 Dec 09
-
What the wider picture shows us is something a whole lot more, ie Russos working their nuts off to keep this club afloat with NO help from Ashcroft. It's clear that Ashcroft never wants to work with Russo, hence his actions, or lack of them until very recently. But what are his true intentions for WFC? Slightly worrying isn't it?
-
What I hope happens is that GT DOES apologise to Russo.
-
GT is a great man and maybe his words did make the difference, however I think upon relfection GT may now see it slightly differently. It would not suprise me if there was an unreserved apology posted on the official site very soon. It would also not suprise me if the relationship between the 2 actually improved as a result, which could be of great benefit to us.
-
Dr.Oftaw
says...
11:00am Sat 19 Dec 09
spidey wrote:good post
Nice to see the cretins still commenting on here ... Simple fact is this, The Russo's rejected Ashcrofts proposal because it would affect their original investment and they would have lost millions, they kept the club afloat whilst oters stood by and watched, within the last month they loaned the club another million to keep us afloat and have done so on many occasions, the other shareholders did nothing, then waited till it got to the last minute and tried to side swipe the Russo's and screw their investment, J&V now have their loan repaid in full so you can hardly say they lost ... I for one can see the hard work they put in, I have sent emails to both Simpson (on numerous occasions) and Russo (2 times) voicing my concerns about the club, the only reply I ever had was from Russo who took the time to reply and try to ease my concerns, if he did not give a Sh8t he would have just ignored me..... I understand GTs comments although he could have chosen the wording a bit better, he looks in from a non financial position and will always hold the club close to his heart, however would he have been so open if he was to lose millions? I dont think so !!! The questions should now be, who is in charge? & where does this change leave us, finacially & moving forward? I really need a statement telling us what our future plans are!!! ...
SuperNova
says...
11:00am Sat 19 Dec 09
WMH
says...
11:02am Sat 19 Dec 09
Billie wrote:Come on, WFC his life's work? He's Chelsea fan! You seem to imply that everybody else posting here doesn't see what real heroes the Russos were and the other side is totally evil..........I am sorry that is way too convenient and smacks of a vested interest, real heroes don't threaten to destroy a club by taking it into admin for Gods sake!
neilhorn wrote: listen - Russo said he would put the club into Admin PURELY AS A TACTIC. He used our club and its history to get his own way. So anything that gets said about him by GT, who created the history we are proud of, is fair game. No apologies. Take the club to 2nd in the PL Jimmy, take it to the Cup Final, take it to Europe.... then you can complain about Taylor, but not till thenHe wanted his money back because it was his life's work and he was subject to a plot. Jim deserved better and GT compromises himself if he knew what was going on. History has no bearing on whether human behaviour is acceptable. Like everyone else I hold GT in the highest esteem but that does not exempt him from having his own behaviour questioned as long as it is in the appropriate manner. Is he exempt from speed limits on the road? This is a cause and effect scenario. If there was a plot and Jim and Vince responded, the plotters created the situation. Either way, the debt is repaid and the club is now back in the control of Ashcroft/Wilson and Simpson. Cause for celebration? I don't think so! Notwithstanding, good luck Malky and the boys. They also deserve better, as long as their own financial demands are commensurate with what the industry can afford.
The truth here is the Russos did some good stuff but their egos were and remain an issue, Simpson got totally carried away with himself and appointed a truly 'bad man' in Ashton (IMHO the only real villain here) and Ashcroft is simply a businessman. They all have massive egos and that in itself became the issue; GT has been the real hero in making sure this did not destroy our beloved club. Your criticism of him is unbalanced, unfair and disrespectful.
Holly68
says...
11:05am Sat 19 Dec 09
Holly68
says...
11:05am Sat 19 Dec 09
neilhorn
says...
11:06am Sat 19 Dec 09
Tyalor hs no money invested, so why did he even bother to get back involved? Because he remembers those days in the 80's- he knows what this clubs means to those that love it and he just had to do what he could, because thats what real men do.
So Russo hasnt proved himself, Ashcroft hasnt proved himself, but Taylor doesnt need to prove anything to us - and he doesnt need to apologise to that pipsqueak Russo
Dr.Oftaw
says...
11:06am Sat 19 Dec 09
SuperNova wrote:best young players we have are on loan to us!when will the academy produce players of their quality
May WFC, it's loyal staff and ground breaking Academy now strive forward!
neilhorn
says...
11:14am Sat 19 Dec 09
Yeah he's big enough mate, but you've got your poxy money back now so no-one cares about what you anymore. You've had your moment of glory - but don't think that qualifies you to tell Graham Taylor what to do
Only 2 Ross Jenkins
says...
11:28am Sat 19 Dec 09
neilhorn wrote:Yes, but don't you see?
oh yeah and I forgot to mention Jimmy. 'He needs to pick up the fone and apologise - if he's big enough' Yeah he's big enough mate, but you've got your poxy money back now so no-one cares about what you anymore. You've had your moment of glory - but don't think that qualifies you to tell Graham Taylor what to do
Russo knows Taylor is big enough to apologise which is exactly why he has asked for an apology!!!!!!!
And by apologising, Russo's reputation is kept in tact, and rightly so.
And by apologising, Taylor endears himself to us even more as the great man he is.
And by apologising, this implies that there was more to it than simply Russo being a "bad man", and that in fact, there are other people to point the finger at.
Expect an apology from GT.
spidey
says...
11:36am Sat 19 Dec 09
No one cares ! I do .... Anyone who has saved our club from ruin on 3 occasions deserves some credit, yes Taylor deserves his point of view but he would not be so flipant if it was going to cost him £2.5 million ...
Its sad to see, but money talks and all J&V r doin is protecting themselves, GT is right to question them but to say he is a "bad Man is wrong" watch this video from J&V and can you honestly say they have done anything wrong??http://www.sk
ysports.com/story/0,
19528,11688_5781156,
00.html
My view on them threatening Administration was purely a tactic to get Ashcroft to the table .... If the majority of us thought we were going to lose £5k we would do what we could to protect it from happening, this is the same only on a larger scale ...
SuperNova
says...
11:51am Sat 19 Dec 09
There is a certain magic being brewed at Harefield.
mellow yellow
says...
12:04pm Sat 19 Dec 09
I find the two sides taken here fascinating. As I do not know any of the board members personally it is incredibly difficult to draw any reasoned, well-balanced conclusion from the whole sorry state we (still) find ourselves in.
However, I will say this: I wrote to Jimmy Russo and had an emailed reply within 24 hours in which he apologised for the delay in getting back to me! In essence, he seemed truly upset by the road he was forced to walk, and the distinct impression was that this was far from over. (As of Thursday pm, that is).
We move on to matters on the pitch. How welcome would 3 points be today?
neilhorn
says...
12:08pm Sat 19 Dec 09
Cheshire Fan
says...
12:15pm Sat 19 Dec 09
Garston Tony
says...
1:00pm Sat 19 Dec 09
grahamwfc
says...
1:24pm Sat 19 Dec 09
Cheshire Fan wrote:Good post Cheshire _ I have heard similar comments from very reliable resources.
Having read some of the comments today after the Russos dispicable behaviour over the last 2 days, I can only assume that Billie and Holly 68 must be related to the Russos. Evidence and proof as to their bully boy tactics - well anyone in doubt should ask the employees at Watford FC, I'm sure they will soon set the record straight. From what I have heard these 2 'little men' were loathed, despised and feared. Two very very small men with very very big egos! As to who appointed GT - I think you'll find Wilson did that. I would ask the question why Ashcroft has underwritten a rights issue when he could have probably bought the club for considerably less. Thank you GT for stepping up to the plate when really needed. You don't owe them any apology - they're not in your class!
What has p***ed JR off is that he thought he would buy the shares up cheap & become overall majority shareholder. He fell at that hurdle & now faces having to pump in £2M to prevent his current shares being devalued with the rights issue. That is why he threatened the Admin before the Rights Issue could be completed - any sound business man would know he would get his loan back from either the rights issue or enforcing a sale of the ground under the powers of the mortgage. It is only when it was pointed out Admin would meake his 29% worthless! In anyones language half a loaf is better than none at all.
I agree with other posters we don't know too much about any of the shareholders but I for one am happy to stand in line with GT; a decent honourable man.
Thank you GT & don't apologise you were spot on
cliff46
says...
6:58pm Sat 19 Dec 09
An earlier poster stated that it was Wilson that invited Graham back not the Russos but I recall it was the Russos that actually presented their plan to SEJ.
He must have been happy about it otherwise he wouldn't have agreed to the concert.
Would Graham have done the advertising to help sell season tickets if he didn't get on with the Rossos.
We supporters are in the very familiar position of knowing very little about the politics going on within our own club but given the fact that Jimmy appeared to communicate with us and the fact that for the first time in a long time the club has been managed in a sensible and down to earth manner I agree with Billie and Garston Tony's postings.
I am sorry to see the Russos go and would like to thank them for their efforts on our behalf.
It remains impossible to understand what Lord Ashcroft is up to, I can't believe he has any real interest in the club or its supporters.
I would much prefer to have my club managed by down to earth individuals that I can understand , albiet with a modest budget.
Most of the people on this site that are currently denigrating the Russo brothers are the same ones that in a few weeks time will be demanding Malky's head if we lose the next three games ( God forbid!).
I have huge respect for GT but don't understand why he would be so critical of Jimmy R, maybe he would think differently if he personaly stood to lose a couple of million pounds as well as finding himself being pushed off the board for a second time.
They did well with the recent player sale negotiations and also the Rodgers saga.
If they perhaps ruffled a few feathers in an effort to put right that which Simpson and Ashton screwed up thats probably inevitable and absolutely fine with me.
Lastly anyone that could so comprehensively prevent Ashton from ripping us off for another £300k is most certainly ok by me.
I don't understand Simpson's role in this all of this as I believe he has been a genuine Watford supporter that got carried away with his own importance and mistakenly went along with Ashton's meglomania and Addies poor judgement of several players.
The Russo's were clearly upset that they stand to lose a lot of money in the proposed rights issue but surely the same applies to Simpson as I doubt he has the funding to invest more money, so why is he so quiet???? Why would you keep quiet about losing a small fortune in a club you don't dare to watch--i don't understand it???
Will the Russos now PLEASE tell us why Simpson resigned???
Wags it all about?
says...
8:18pm Sat 19 Dec 09
Like Holly68 and others that know the Russo's personally, they are not the 'bad guys' or indeed the 'losers' in respect of this recent development.
I would like to quote our current CEO Julian Winter back in dec 2008 on the depatrure of Mark Ashton.
'Winter thanked Ashton for his work during his time at the club and said he would always be a welcomed visitor’ (taken from official club website).
Are you aware Winter was actually RECRUITED by none other than Mark Ashton? Incredibly, when unprecedented damage is done to club and the game is up for Ashton Winter then decides to give him a cringe-sickening glowing goodbye with the promise of always being a welcome visitor at the Vic!!.
This is just a tiny example of the sort of sh** Jimmy and Vince had to work with - individuals that do not recognise characteristics such as honesty, loyalty or integrity.
Yes, I know this is football we are talking about, but when you cannot trust people on your own side who then conveniently dance to a different tune when 'incentivised' for their own interests by others, how on earth could any progress be made??
Some of the pro ashcroft comments on this forum are nothing short of naive and laughable.
Be warned the club are very much back in spin mode and whilst Jimmy and Vince were not perfect, at least they were INTERESTED in football, supported the team home and away, reside and pay taxes in this country and as 30% shareholders kept the club viable since their re-appointment to the board. I could continue with their considerable achievements but I have little confidence in being able to change the mind of numptees that hang on every word endorsed by the club.
GT is a man I admire for his football achievements, but sadly on this occasion I believe going forward, we will see he has indeed made an error of judgement.
So, we are stuck with the tax exile from belize, who does not follow sport let alone football or WFC. Make no mistake the only loser out of this episode are football supporters - yes I'm talking about you numbskulls that believe Ashcroft is the way ahead.
Given the above, for all we know, the turncoat Winter might very well be still 'best buddies' with Ashton, unquestionably the worst CEO on record (although on recent form, Winter is fast catching up).
So many other vested interests among so
derry pigweed
says...
11:48pm Sat 19 Dec 09
cliff46 wrote:Cliff superb post !
I wonder if GT will actually stay on after what was obviously a very unpleasant few days. An earlier poster stated that it was Wilson that invited Graham back not the Russos but I recall it was the Russos that actually presented their plan to SEJ. He must have been happy about it otherwise he wouldn't have agreed to the concert. Would Graham have done the advertising to help sell season tickets if he didn't get on with the Rossos. We supporters are in the very familiar position of knowing very little about the politics going on within our own club but given the fact that Jimmy appeared to communicate with us and the fact that for the first time in a long time the club has been managed in a sensible and down to earth manner I agree with Billie and Garston Tony's postings. I am sorry to see the Russos go and would like to thank them for their efforts on our behalf. It remains impossible to understand what Lord Ashcroft is up to, I can't believe he has any real interest in the club or its supporters. I would much prefer to have my club managed by down to earth individuals that I can understand , albiet with a modest budget. Most of the people on this site that are currently denigrating the Russo brothers are the same ones that in a few weeks time will be demanding Malky's head if we lose the next three games ( God forbid!). I have huge respect for GT but don't understand why he would be so critical of Jimmy R, maybe he would think differently if he personaly stood to lose a couple of million pounds as well as finding himself being pushed off the board for a second time. They did well with the recent player sale negotiations and also the Rodgers saga. If they perhaps ruffled a few feathers in an effort to put right that which Simpson and Ashton screwed up thats probably inevitable and absolutely fine with me. Lastly anyone that could so comprehensively prevent Ashton from ripping us off for another £300k is most certainly ok by me. I don't understand Simpson's role in this all of this as I believe he has been a genuine Watford supporter that got carried away with his own importance and mistakenly went along with Ashton's meglomania and Addies poor judgement of several players. The Russo's were clearly upset that they stand to lose a lot of money in the proposed rights issue but surely the same applies to Simpson as I doubt he has the funding to invest more money, so why is he so quiet???? Why would you keep quiet about losing a small fortune in a club you don't dare to watch--i don't understand it??? Will the Russos now PLEASE tell us why Simpson resigned???
Over to you Homer? stop talking about your kittens in your blog on Simpletons travel website and tell us where the money is ?
gjn
says...
6:20am Sun 20 Dec 09
sceptic
says...
10:37am Sun 20 Dec 09
dorsethorn
says...
11:12am Sun 20 Dec 09
After the Goldrush
says...
10:20pm Sun 20 Dec 09
a1derek
says...
12:00am Mon 21 Dec 09
Yes, Russos did good work, but I think there was (always) an alternative agenda. They wanted the entire club for peanuts. They played as hard as they could to try and achieve their goal, but lost out to superior "clout".
WMH - spot on! Good post.
I'm still not sure where the Lord (moves in mysterious ways - LOL) rescue package leaves us in the long term.
More WFC in Crisis stories
- Watford boss Malky Mackay expects tough test against Nottingham Forest
- Lord Ashcroft to cover shortfall until rights issue
- Watford FC's parent company releases statement to stock exchange
- Russo's lawyers looking at Taylor's 'bad man' remarks
- Watford very close to reaching agreement on future
- Still no news on December 22 deadline
- Taylor: Hornets face 'deeply unpleasant situation'
- Watford Supporters' Trust chairman gives his views on Watford FC crisis
- Russo confirms Watford set for administration
- Russo rejects Lord Ashcroft's proposal
Most popular
Local Information
Enter your postcode, town or place name
says...