(.)Boobies(.) Watford receive a stay of execution over the repayment to the Russo family.
A deal has been proposed by Lord Ashcroft to put in 7.5 million which will cover the Russo loan etc..
Now its up the brothers to accept this deal.
by Super_horns » 17 Dec 2009 15:26
(.)Boobies(.) Watford receive a stay of execution over the repayment to the Russo family.
by Bucks Dave » 17 Dec 2009 15:54
by Super_horns » 17 Dec 2009 17:05
by Bucks Dave » 17 Dec 2009 18:23
by Super_horns » 17 Dec 2009 18:24
by Row Z Royal » 17 Dec 2009 18:44
Super_horns Watford heading into Administration as Russo rejects clubs rescue proposal.
Seem you at the bottom.
by PieEater » 17 Dec 2009 18:59
by handbags_harris » 17 Dec 2009 19:15
Bucks Dave Not quite. The £7.5 M is a rights issue and will cover the £4.8M owed to the Russos but not all the further £5.5M Watford must find by June. Selling Scott Loach in Jan may cover that shortfall. However, the motives of Ashcroft and Simpson in owning and running the club are still unclear. Ashcroft is not a Watford supporter but a businessman who likes to see a return. Ownership of Vicarage Road at a knockdown price could be lucrative. At the AGM as I understand it there was not even a representative of Ashcroft's identified.
At Reading we have one ego controlling things but quite open about his motives, at Watford they have competing egos battling for control with the fans way down the pecking order on knowing what's happening.Watford even sued their local paper when it was getting close to what was really going on.
Their supporters trust also seem to be completely supine.
by Super_horns » 17 Dec 2009 19:24
Row Z RoyalSuper_horns Watford heading into Administration as Russo rejects clubs rescue proposal.
Seem you at the bottom.
Well Russo is just a cock then.
by handbags_harris » 17 Dec 2009 19:39
Super_hornsRow Z RoyalSuper_horns Watford heading into Administration as Russo rejects clubs rescue proposal.
Seem you at the bottom.
Well Russo is just a cock then.
The loan guys and players like Loach/DeMerit are going now plus even a few youngsters!
Anyone worth dosh I reckon.
Feel so sorry for Malky and the players.
We were looking at the play-offs but now its relegation.
Now we don't even owe the ground but Russos and their company do so goodness knows what they might do.
by Royal Rother » 17 Dec 2009 19:42
by wolsey » 17 Dec 2009 20:30
Royal Rother But the Russos are little and foreign so you'd have to be surprised if they weren't doing it all out of self-interest.
by handbags_harris » 17 Dec 2009 20:34
wolseyRoyal Rother But the Russos are little and foreign so you'd have to be surprised if they weren't doing it all out of self-interest.
I've met Jimmy - bit like Danny De Vito's character in Taxi, but without his social graces - the foreign bit is irrelevant, but the rest of your sentence is about right.
by Bucks Dave » 17 Dec 2009 23:58
by The whole year inn » 18 Dec 2009 08:24
by Royal Rother » 18 Dec 2009 09:00
by (.)Boobies(.) » 18 Dec 2009 09:19
The whole year inn what is the likely punishment for all this?
by Dirk Gently » 18 Dec 2009 14:29
(.)Boobies(.)The whole year inn what is the likely punishment for all this?
A 10 points deduction (?), and a freeze on Watford's buying of players. If Watford don't come out of administration by the seasons end, I think they gain another points deduction that will be carried into next season?
by handbags_harris » 18 Dec 2009 15:36
Ideal It sounds like Watford are in deep shit no matter what. This sort of conflict is likely to drag on for years. I can't see ether party backing down.
by Dirk Gently » 18 Dec 2009 15:51
handbags_harrisIdeal It sounds like Watford are in deep shit no matter what. This sort of conflict is likely to drag on for years. I can't see ether party backing down.
My understanding is that that's not strictly true though. If/when the club enter administration, that leaves the financial side of things in the hands of independent administrators, and the club is also up for sale. If I understand the situation correctly, my prediction is that with the Russo's now effectively owning Vicarage Road, they will be in a much stronger position to buy the club when it goes into administration. This would leave Simpson and Ashcroft out in the cold and also out of pocket as they would have to sell their shares at a valuation negotiated by the Russo's and the administrators, and leaves the Russo's engineered position intact.
For a pretty well balanced article on the matter, this has been forwarded to me:
http://www.twohundredpercent.net/?p=4096
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