Superseagull
Well-known member
- Jul 8, 2003
- 2,122
Looks like Watford have a big money backer now.
http://news.bbc.co.uk/sport1/hi/football/teams/w/watford/4805978.stm
http://news.bbc.co.uk/sport1/hi/football/teams/w/watford/4805978.stm
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watford take over
- Thread starter Superseagull
- Start date
Barrel of Fun
Abort, retry, fail
Big opportunity to turn them into a 'large club' New developments in and around Watford, increasing their 'fanbase'.
Let it be us next!!
Let it be us next!!
London Irish
Well-known member
Canary comes to aid of Hornets
Lord Ashcroft, Conservative party deputy chairman, is underwriting a £6.19m rights issue for Watford Leisure, owner of the football club now fourth in the Championship.
The stake in Watford held by Fordwat, his company, could rise from its current 6.56 per cent to 41.6 per cent under the fundraising.
Ashcroft said he’d fall off his chair if the shareholding reached that level but Fordwat has been given a waiver not to have to make a full bid even if it does.
He said the deal was a commercial transaction with a “nice group of people”. Watford’s directors include Andrew Wilson, one of his business associates.
Ashcroft’s own primary football loyalty, however, remains with Norwich City.
But if you think the offside rule is complicated, consider the recent history of Watford’s shares. Two years ago, existing shares were consolidated on a 1,000-for-1 basis. Now, each will be subdivided into one ordinary and nine deferred; the latter will be cancelled to eliminate the deficit on the profit-and-loss account.
Watford plans to review whether to remain on Aim.
Lord Ashcroft, Conservative party deputy chairman, is underwriting a £6.19m rights issue for Watford Leisure, owner of the football club now fourth in the Championship.
The stake in Watford held by Fordwat, his company, could rise from its current 6.56 per cent to 41.6 per cent under the fundraising.
Ashcroft said he’d fall off his chair if the shareholding reached that level but Fordwat has been given a waiver not to have to make a full bid even if it does.
He said the deal was a commercial transaction with a “nice group of people”. Watford’s directors include Andrew Wilson, one of his business associates.
Ashcroft’s own primary football loyalty, however, remains with Norwich City.
But if you think the offside rule is complicated, consider the recent history of Watford’s shares. Two years ago, existing shares were consolidated on a 1,000-for-1 basis. Now, each will be subdivided into one ordinary and nine deferred; the latter will be cancelled to eliminate the deficit on the profit-and-loss account.
Watford plans to review whether to remain on Aim.