Liam Liam Liam O Posted December 16, 2009 Share Posted December 16, 2009 Watford have asked for their shares to be suspended from AIM The directors who resigned last night are also directors of the company they have to find £5m to pay back by the summer. Not looking good Link to post Share on other sites More sharing options...
Guest Stephen927 Posted December 16, 2009 Share Posted December 16, 2009 Just seen this on SSN, not good at all for them. Link to post Share on other sites More sharing options...
Guest gggg Posted December 16, 2009 Share Posted December 16, 2009 Doing a Luton. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted December 16, 2009 Share Posted December 16, 2009 Just heard about this, did Russo resign and demand his money? He will be popular with the fans.......... Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted December 16, 2009 Share Posted December 16, 2009 Watford Football Club stands on the brink of administration after asking for trading in their shares to be suspended this morning. The club's financial turmoil spilled into the boardroom yesterday when directors Jimmy and Vince Russo and Robin Williams told the club's AGM they were resigning with immediate effect. The club has now issued a statement to end trading of their shares on the Alternative Investment Market (AIM). "Pending resolution and clarification of their financial position, the company have requested that their shares be suspended from trading on AIM," a statement read. "In the event that a funding solution cannot be obtained then the company may have to be placed in administration. A further announcement will be made in due course." The Russos had already injected more than £4 million in loans from their company, Valley Grown Salad, however they have now demanded repayment by the end of business today. The move comes a fortnight after Jimmy Russo, the chairman, had lent Watford's holding company £1 million last month in order to keep the club going until December 22. Non-executive directors David Fransen, Stuart Timperley and Graham Taylor and CEO Julian Winter were all re-elected to the board. http://www.timesonline.co.uk/tol/sport/football/article6958557.ece They want the money out by close of business today!? Link to post Share on other sites More sharing options...
Guest Roger Kint Posted December 16, 2009 Share Posted December 16, 2009 So by saying the last thing he wants is administration he really means screw you all i want the fatal blow? If they refuse and go into admin anyway would he lose the lot? Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted December 16, 2009 Share Posted December 16, 2009 So by saying the last thing he wants is administration he really means screw you all i want the fatal blow? If they refuse and go into admin anyway would he lose the lot? Nah, I would imagine there will be some pretty hefty security attached to the loan. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted December 16, 2009 Share Posted December 16, 2009 So by saying the last thing he wants is administration he really means screw you all i want the fatal blow? If they refuse and go into admin anyway would he lose the lot? Nah, I would imagine there will be some pretty hefty security attached to the loan. Just seen part is against the ground so should be safe Link to post Share on other sites More sharing options...
Guest togsy Posted December 16, 2009 Share Posted December 16, 2009 Elton John will bail them out Link to post Share on other sites More sharing options...
NG32 Posted December 16, 2009 Share Posted December 16, 2009 Elton John will bail them out Not while he is still standing he wont. Link to post Share on other sites More sharing options...
Guest toonlass Posted December 16, 2009 Share Posted December 16, 2009 Where is GG? Link to post Share on other sites More sharing options...
NG32 Posted December 16, 2009 Share Posted December 16, 2009 Where is GG? Hanging from the end of a long long rope. Link to post Share on other sites More sharing options...
JH Posted December 16, 2009 Share Posted December 16, 2009 Where is GG? Hanging from the end of a long long rope. He's doing a sponsored abseil to try and raise the money. Link to post Share on other sites More sharing options...
jdckelly Posted December 16, 2009 Share Posted December 16, 2009 noone wants too see something like this Link to post Share on other sites More sharing options...
BlueStar Posted December 16, 2009 Share Posted December 16, 2009 noone wants too see something like this Apart from maybe Luton Link to post Share on other sites More sharing options...
Guest Posted December 16, 2009 Share Posted December 16, 2009 Robin Williams *snigger* Link to post Share on other sites More sharing options...
Kaizero Posted December 16, 2009 Share Posted December 16, 2009 Poor GG Link to post Share on other sites More sharing options...
cosmic Posted December 16, 2009 Share Posted December 16, 2009 If Watford folds this season, will the games they have played be declared null and void ? Link to post Share on other sites More sharing options...
JH Posted December 16, 2009 Share Posted December 16, 2009 If Watford folds this season, will the games they have played be declared null and void ? Apparently so. Link to post Share on other sites More sharing options...
SGSC Posted December 16, 2009 Share Posted December 16, 2009 Meaning the 3 points we gained from defeating them are deducted from our total? That would kinda suck... Link to post Share on other sites More sharing options...
Guest ProudToBeAGeordie Posted December 16, 2009 Share Posted December 16, 2009 Meaning the 3 points we gained from defeating them are deducted from our total? That would kinda suck... West Brom beat them also so would still be 7 clear. Link to post Share on other sites More sharing options...
JH Posted December 16, 2009 Share Posted December 16, 2009 Meaning the 3 points we gained from defeating them are deducted from our total? That would kinda suck... Well yeah, but they'd also be deducted from everyone else as well. Link to post Share on other sites More sharing options...
Jayson Posted December 16, 2009 Share Posted December 16, 2009 The gap between 1st & 3rd would be closed in though, forest lost to them. So essentially like us losing a match & them winning one. Link to post Share on other sites More sharing options...
Dr.Spaceman Posted December 16, 2009 Share Posted December 16, 2009 Now their fans actually have reason to whinge. Link to post Share on other sites More sharing options...
Guest Heneage Posted December 16, 2009 Share Posted December 16, 2009 They'll be fine Lloyd Doyley is worth 6m on his own. Link to post Share on other sites More sharing options...
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