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HORNETS RUBBISH ADMINISTRATION TALK
Watford's Vicarage Road.
Watford have denied reports suggesting the club "faces administration and is on the brink of financial meltdown" but admit they are still on the look-out for fresh investment.
The rumours surfaced as the club has gone about implementing a number of cost-cutting measures over the summer months, including the sale of big names such as Dan Shittu, Darius Henderson and Nathan Ellington.
A distinct lack of new faces coming into the club coupled with talk of shelved stadium re-development plans have only served to fuel speculation.
However, a statement on the club's official website read: "Recent allegations that the club faces administration and is on the brink of financial meltdown are, in the club's eyes, irresponsible and without foundation. Under no circumstances are the club in danger of going into administration."
The club have cited the recent arrival of "the bulk of its final parachute payment" as the reason behind reducing costs and they are to look into the possibility of attracting new investment.
"The board continue to investigate the possibility of fresh investment as a priority," added the statement.
