Watford close to administration

[Ray. 217]

Watford close to administration

Watford's financial difficulties have left it on the brink of administration

Watford Football Club stands on the brink of administration following demands from creditors.

The Championship side's parent company, Watford Leisure, has been asked to pay back £4.9m in loans before the close of business on Wednesday.

More from http://news.bbc.co.uk/1/hi/business/8415622.stm

This will obviously have an affect on our meeting with them in January and wonder who we would meet if they went into Administration.

Edited December 16, 2009 by Blueray

[Ray. 217]

Former Watford chairman Jimmy Russo has said he will put the Championship club into administration after refusing to defer the repayment of his £4.88m loan.

more from http://news.bbc.co.uk/1/hi/business/8418667.stm

Edited December 18, 2009 by Blueray

[Laylabelle 9,305]

Awww they're safe..for the mo anyhow

http://news.bbc.co.uk/sport1/hi/football/teams/w/watford/8418667.stm

Edited December 19, 2009 by Laylabelle

[northernblue 2]

Another former Prem club struggling just a few years after relegation, are they overstretching themselves when they get promoted? though in this case it does sound like the ex-chairman is not doing them any favours.