Watford are still open to other potential investment into the club, including increasing the 10% on offer via the new digital equity scheme should the demand be there.

However, while Gino Pozzo is willing to make more shares available if and when the right opportunities arise, he is not intending to relinquish his controlling interest in the club.

Furthermore, if the latest share offering fails to realise its intended level of revenue, the club has stressed it is at no risk and will continue to operate as intended.

While Pozzo has released 10% of the Hornets with a valuation of £17.5m on those shares, the Watford Observer understands that he has no intention whatsoever to sell up and walk away from Vicarage Road.

One thing the Watford Observer is aware of is the club has definitely not ruled out considering other ways of attracting further investment in the short-term, and also this release of 10% of the club’s equity equally does not mean the owner himself will not invest any more of his own money in Watford.

It has also been made clear to us that this is not ‘rescue funding’, and so should the full valuation of the offering not be met it will not cause the club any problems.

The Hornets are preparing to begin their 13th season under the Italian’s ownership, and it will be the first time since the 2014/15 campaign that the Hornets have played in the Championship for three consecutive seasons, the Pozzos having purchased the club in 2012.

With parachute payments from the Premier League now at an end after a season which saw Watford finish 15th in the league table and win only one home game in the New Year, the knowledge that the club were actively seeking fresh investment led some to believe Pozzo was considering taking on a minority shareholder or even selling the club.

However, the Watford Observer was met with a very solid no when suggesting that the latter might be a possibility.

Of course, the digital equity offering could attract an individual or institution that wished to invest a figure that would consume most or all of the 10% on offer.

After all, the website of the club’s partners in the scheme, Republic, shows the perks available to someone who wanted to invest more than £800,000.

However, it would seem likely that any such investor would have a direct conversation with the club and not wait for a digital offering to express a substantial interest.

Plus it’s widely known that Watford have actively been looking for fresh investment for some time and the fact they have now opted for this digital equity scheme suggests they failed to unearth a route to finding tens of millions from one source.

The club has, in the digital offering, explained that the 10% available could hypothetically be taken up by an individual or group and there are provisions in place should supply exceed demand.

Currently, though, the level of those showing interest in purchasing the shares suggests the average commitment to be around the £600-mark.

One thing to bear in mind is that money 'committed' is not money definitely invested.

The digital equity pitch documents stress that a proportion of the proceeds raised will go towards strengthening the playing side of the club – though not what that proportion might be.

Although the length of time taken to realise the money from the equity scheme is bound by financial regulation timeframes, the Watford Observer has been assured that funds will be available ahead of the new season.

What has also become quite clear is the digital equity scheme is not connected to any of the groups rumoured to have been close to investing in the club in the last 18 months or so.

It has been stressed to the Watford Observer that this is a totally new offering.