Watford manager Malky Mackay says seeing off the threat of administration is a huge weight off the shoulders for the whole club.
Lord Michael Ashcroft has completed a deal to repay a £4.88million loan to the Russo brothers, which stopped the club from going into administration.
"Administration means a deduction of points, it means people being sacked from their jobs and I don't mean football people," Mackay told Watford Observer.
He added: "I'm talking about people who have worked at our football club and have done so for the last 10 to 15 years, who love the club.
"A lot of that would have happened with an independent administrator, so the fact that that has been resolved takes a great weight and a great burden off the club."
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