Watford Football Club has asked for its shares to be suspended after warning it may go into administration.Three of the club's board - the chairman, vice chairman and director - resigned after last night's AGM.
"In the event that a funding solution cannot be obtained then the company may have to be placed in administration.
Results 1 to 28 of 28
-
16-12-2009 07:39 AM #1
Watford FC May Go Into Administration
-
16-12-2009 08:02 AM #2This quote is hidden because you are ignoring this member. Show Quote
Serious questions should be asked of the regulators(football authorities) role in helping ensure the future viability of the game. From what I understand of Finance just like the FSA didn't "step up to the plate" the football authorities (other than a notable few tough words from Platini prior to his election) have been rather quiet on all of this nonsense.
Donno about Watfords situation whether to feel sorry for them or not but at the end of the day they are just fans like us that feel the pain. Maybe Elton can pull a few strings.
-
16-12-2009 08:15 AM #3
Clearly neither of these clubs have heard of Yamanomics. When you owe money to yourselves, of course you don't have any debt.
Maybe someone should point Sir Elton in the direction of UBIG or send him a copy of the latest Romanov epistle to Yams fans. That'll sort it.
-
16-12-2009 08:20 AM #4
I think that a few clubs will start to lose the place financially over the next season and a half. I see that Plymouth have had a transfer ban out on them and they seem to be finding money hard to come by. Add Crystal Palace to that list as well.
-
16-12-2009 08:30 AM #5
- Join Date
- Jul 2003
- Location
- United Kingdom
- Posts
- 11,781
It is all very sad regardless of which club including the manky mob from gorgie. Poor leadership threatens the clubs future. The fans are the ones who suffer. When you read about other clubs I'm amazed how good STF and RP have been. It also makes you wonder how RP has not transfered himself
-
16-12-2009 08:42 AM #6
If the situation gets dire and clubs start to disappear as fast as Hearts managerial staff then if those wot run football do step in how do they do this without penalising those showing prudence - like Hibs.
If things turn out like this it could get very messy, quite lucrative being a lawyer specialising in football administration...
-
16-12-2009 08:43 AM #7This quote is hidden because you are ignoring this member. Show Quote
It is hard to feel too sorry for those clubs which, rather than run a balanced commercial concern where its employees and creditors all get paid timeously, try to buy bigness by pretending that the laws of mathematics can be ignored.
-
16-12-2009 08:45 AM #8
Really hope they find someone to help them out.
Used to to go to quite a few Watford games when I had a flat right next to Vicarage Rd.
Really surprised by this as they never spent any money and didn't seem to pay big wages.
The times that they have been promoted to Premiership in the past they haven't shown much ambition, never spent much money and gone straight back down.
Must be a lot of clubs going a similar way if this is happening to the Glory Hornet Boys :(
-
-
16-12-2009 10:09 AM #10
- Join Date
- Mar 2007
- Location
- Father Noel Furlong
- Posts
- 9,934
This quote is hidden because you are ignoring this member. Show Quote
-
16-12-2009 10:25 AM #11This quote is hidden because you are ignoring this member. Show Quote
Watford have been struggling for some time and this is not really a surprise. Administration looks inevitable, but it might not be a bad thing for them if Elt was going to buy them afterwards.
-
16-12-2009 10:29 AM #12This quote is hidden because you are ignoring this member. Show Quote
-
16-12-2009 10:48 AM #13
- Join Date
- Mar 2007
- Location
- Father Noel Furlong
- Posts
- 9,934
This quote is hidden because you are ignoring this member. Show Quote
The club also needs serious investment with regards it's infrastructure. The ground is a death-trap.
-
16-12-2009 10:55 AM #14
- Join Date
- Apr 2005
- Posts
- 926
The Darren Ferguson debacle aside, Darragh MacAnthony's prudent approach upon reaching the Championship could yet prove Petrie-esque for The Posh's future aspirations. He has constantly said that "unlike other clubs" we will not spend beyond our means and while we're getting crowds of 7,000 to 8,000 that means lower wages than most, if not all.
The plights at Watford, Plymouth and Palace offer us a glimmer of hope while we're rooted to the bottom of the table, without a win in sight! Having said that, a ten point deduction for Watford would still leave us six points behind them! LOL!
-
16-12-2009 10:57 AM #15This quote is hidden because you are ignoring this member. Show Quote
-
16-12-2009 11:07 AM #16This quote is hidden because you are ignoring this member. Show Quote
I guess Watford's parachute payments ran out last year, but they still had players' contracts to service - paying Premiership wages on Championship income.
Best of luck to Posh anyway.
-
16-12-2009 11:22 AM #17
- Join Date
- Mar 2007
- Location
- Father Noel Furlong
- Posts
- 9,934
This quote is hidden because you are ignoring this member. Show Quote
Their home form from Dec-May that season cost them the automatic berth and they got done in the play-offs (by Hull IIRC)
-
16-12-2009 02:32 PM #18
- Join Date
- Apr 2002
- Location
- Hertfordshire
- Age
- 54
- Posts
- 31
Elton John is trying to help out by playing a concert at Vicarage Road with the proceeds going to Watford FC.
However the concert is not until May 2010, which may be a bit too late. Also they reckon the receipts may 'only' raise £600k.
As somebody commented earlier, I'm amazed they find themselves in this position as their attendances are average for that league and I always thought them to be quite prudent on the transfer front too. I was obviously very wrong.
Hope something can be done.
Mark
-
17-12-2009 07:13 PM #19
- Join Date
- Mar 2007
- Location
- Father Noel Furlong
- Posts
- 9,934
Looks like they're screwed.....
Administration
-
17-12-2009 07:57 PM #20This quote is hidden because you are ignoring this member. Show Quote
Isnt Elton John a billionaire and former Director or chairman?..why cant he pay whats needed to stem the tide?
Pretty shan if Watford head into Administration, always had a wee sof spot for them cause they where always s hight
-
17-12-2009 08:29 PM #21This quote is hidden because you are ignoring this member. Show Quote
In any case if Elton did this any Tom, Dick or Harry who stepped in would reckon - "I'm alright, Elton will bail them out if the club get into a pickle".
-
17-12-2009 08:59 PM #22This quote is hidden because you are ignoring this member. Show Quote
-
17-12-2009 09:35 PM #23This quote is hidden because you are ignoring this member. Show Quote
-
17-12-2009 09:40 PM #24This quote is hidden because you are ignoring this member. Show Quote
-
17-12-2009 09:41 PM #25This quote is hidden because you are ignoring this member. Show Quote
Ok,.. im not trying to be smart in any way, just trying to think.
-
17-12-2009 09:42 PM #26
- Join Date
- Mar 2007
- Location
- Father Noel Furlong
- Posts
- 9,934
This quote is hidden because you are ignoring this member. Show Quote
The answer lies above...
-
18-12-2009 08:08 AM #27
- Join Date
- Dec 2007
- Posts
- 23
I've added Watford to the Football Finances site.
As other shave said Watford messed it up badly when they gambled on coming straight back up after their last relegation.
Ther income will drop from roughly £22m last season to roughly £8m this. No one can manage that sensibly.
That the directors paid themselves huge salaries is pretty grotesque. Even higher than Petire !!!
http://www.football-finances.org.uk/watford
-
19-12-2009 09:31 AM #28
problem solved, for the time being at least http://news.bbc.co.uk/sport1/hi/foot...rd/8418667.stm
Watford have avoided the threat of administration after majority shareholder Lord Ashcroft agreed to pay former chairman Jimmy Russo £4.88m.
The rescue package, which will be underwritten by Lord Ashcroft, means the club can be kept running at least until the end of the season.
Log in to remove the advert |
Similar Threads
-
Watford v QPR
By CB_NO3 in forum hibs.net Main ForumReplies: 2Last Post: 07-12-2009, 06:47 PM
Bookmarks