Russo: Hornets were on the brink

Published Add your comment

Watford chairman Jimmy Russo has revealed that he and his brother Vince have put £3.7million into the club since January to stop the Hornets from going into administration.

Russo delivered the news at a fans forum on Thursday, saying: "The reality is - and there is no spin - the facts are both my brother and myself, since January, have put £3.7million back into this club to keep it going.

"On three occasions we could have gone into administration. On three occasions, not just once. And I keep putting the money in, so I put my money where my mouth is."

Russo went on to add that Watford currently "have a shortfall of £8.5million", but reassured fans that a plan was in place and he was "confident going forward".

Watford have recently managed to recoup substantial funds through the sales of Tommy Smith, Jobi McAnuff, Tamas Priskin and Mike Williamson.

When asked if the money from those sales would be put back into Malky Mackay's transfer kitty, Russo replied: "No it won't because we have to repair the hole that we have. If I committed all that money, we would go into administration and there is not one person in this room who wants us to go into administration. That is the last thing we want. So we have to be very careful."

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE:

Mike Williamson
Malky Mackay
Tommy Smith
Tommy Smith
Jobi McAnuff
Tamas Priskin

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again