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Watford facing Administration...


Colinjb
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According to footy365.

 

Frankly? HOW!?

 

They made a **** load of TV money, have sold their stronger players and still have a years worth of parachute payments coming in. So how the f*ck are they close to administration!?

 

Buzzin' Orn, any ideas?

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£45M in wages in the last 3 years. Ashton and Simpson hoarding money, silly wages for Kabba, Ellington, Hoskins, Henderson, Stewart, Mahon, Francis and others. Poor investment and they've lost 'ring-fenced' money for stadium development. They won't get close to administration mind, they've got the Russo brothers (ex-directors who were taken off the board to disagreements with the current c*ntish hierarchy) willing to buy up and Lord Ashcroft who's underwritten a lot of the loans and would pay up if it becomes that dire. They have no pro-active investment and will have to rely on getting lucky again. A lot of short-term loans have been called in by the bank (notable one of £6M) when they didn't get promotion. This is the main cause. However they aren't that bad IMO, they will sort themselves out (Elton John would probably save them again ffs) but they're still pretty screwed and without a takeover (not inc. Russos) will be without funds to compete at this level, but merely survive.

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Have just heard a rumour (sounds half-decent and very plausible considering they need a striker, not entirely sure about it though but still.... De La Cruz, Bamba and Rasiak to sign for them tomorrow morning. The first two are likely, although Bamba is at the Olympics, but they desperately need a striker and wouldn't be surprised if they sign Rasiak on loan with a view to a permanent in January.

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They released a club statement today, saying they're nowhere near admin, but are cutting costs ahead of the lack of parachute payments next season and have repaid all short-term loans except one outstanding to the chairman. Also says they've a good relationship with Barclays and have spent the money for stadium redevelopment on smaller things. Plus they're looking for external investment. They admit they're a bit short on cash, but not as disastrous as some would like you to think. I hope if Rasiak leaves, it is to there, I like the fella.

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Two schools of thought:

 

1) They didn't have an expert chairman with same experience and strategies as one R Lowe.

 

2) Did Leon Crouch become their Chairman after he left us?

 

I'm interested to see that SB can't stand a £5... The thought of him limited to 3 posts a day makes me want to pay £50 for 10 other people!

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Two schools of thought:

 

1) They didn't have an expert chairman with same experience and strategies as one R Lowe.

 

2) Did Leon Crouch become their Chairman after he left us?

 

I think it really should serve as a wake up call to our so-called 'fans'. They should be down on their knees thanking Lord Lowe for the financial savvy he has brought to this club. His services are literally worth millions per year, and that is what we would have had to pay him to secure his services in the private sector.

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His services are literally worth millions per year, and that is what we would have had to pay him to secure his services in the private sector.

So why did he come back then, if he could command multi-million pound salaries elsewhere, and why hasn't he been headhunted since rejoining the SLH board? Surely the amount he'd stand to lose on his shares (about £500k at the moment) is peanuts compared to the amount he could earn elsewhere...

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£45M in wages in the last 3 years. Ashton and Simpson hoarding money' date=' silly wages for Kabba, Ellington, Hoskins, Henderson, Stewart, Mahon, Francis and others. Poor investment and they've lost 'ring-fenced' money for stadium development. They won't get close to administration mind, they've got the Russo brothers (ex-directors who were taken off the board to disagreements with the current c*ntish hierarchy) willing to buy up and Lord Ashcroft who's underwritten a lot of the loans and would pay up if it becomes that dire. They have no pro-active investment and will have to rely on getting lucky again. A lot of short-term loans have been called in by the bank (notable one of £6M) when they didn't get promotion. This is the main cause. However they aren't that bad IMO, they will sort themselves out (Elton John would probably save them again ffs) but they're still pretty screwed and without a takeover (not inc. Russos) will be without funds to compete at this level, but merely survive.[/quote']

 

Call me crazy, but doesn't that all sound vaguely familiar?

 

This is why I am drastically losing interest in football. The money involved is just ridiculous these days and when clubs (just like ours) can't even survive without massive injections of cash from rich benefactors then something is seriously wrong.

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So why did he come back then, if he could command multi-million pound salaries elsewhere, and why hasn't he been headhunted since rejoining the SLH board? Surely the amount he'd stand to lose on his shares (about £500k at the moment) is peanuts compared to the amount he could earn elsewhere...

 

He can, and does, do both.

 

He is currently at the helm of one of the most dymanic and progressive investment banking firms in the world.

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Buzzin's assessment of Watford is pretty much spot on. They're in a bit of bother, but have got too many saviours who'd come out of the woodwork before anything drastic happened.

 

If Watford's finances were in a better state then Saracens would have been out on their ear a long time ago (a 1 year notice period can be given to them at any time), but in the current climate the annual 400k + catering profits and the like that they generate for the club are more than welcome. The current deal with them ends in 2011, and as much as the club would love to get rid of them, it's more than likely that deal will be extended.

 

As far as the Rasiak rumour is concerned, Watford would love him, but then they'd love to have a striker full stop. Unless a mega cheap deal can be arranged I think it'd be much more likely that Watford get a couple of young strikers on loan from Premier League clubs.

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He can, and does, do both.

 

He is currently at the helm of one of the most dymanic and progressive investment banking firms in the world.

 

Scooby can you stop posting facts.

Thank you.

 

Regards the Watford talk why dont we find a rugby or (Hockey) club to ground share with us?

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I have a family memeber who works for Watford and I'm pretty sure he would have told me if they were going to try and get Rasiak on loan.

 

Boothroyd has now made the signing of a striker his top priority and he will attempt to sign a Championship striker, with an international pedigree, on loan next week.

 

Only Rasiak and Mifsud really fit the bill where I stand.

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I think it really should serve as a wake up call to our so-called 'fans'. They should be down on their knees thanking Lord Lowe for the financial savvy he has brought to this club. His services are literally worth millions per year, and that is what we would have had to pay him to secure his services in the private sector.

 

lol

 

He is my hero as well, I have pictures of him all over my walls.

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He can, and does, do both.

 

He is currently at the helm of one of the most dymanic and progressive investment banking firms in the world.

 

So to answer the question, why come back to Saints? Only a thickee would do that, if what you say is true (which it isn't).

 

Perhaps it is because he loves the club, who knows.

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I have a family memeber who works for Watford and I'm pretty sure he would have told me if they were going to try and get Rasiak on loan.

 

I have spoken to my brother and they are actuall trying to get Rasiak on loan.

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