Hornets deny crisis talk

Administration rumours swiftly rejected

Last updated: 8th August 2008

Watford Vicarage Road General

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Watford have moved to deny reports they are facing administration, but do concede fresh investment would be welcomed.

Rumours of a financial meltdown have surfaced of late, with the club having gone about implementing a number of cost-cutting measures over the summer months.

Big names such as Danny Shittu, Darius Henderson and Nathan Ellington have all departed for pastures new, while a 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 face 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 board continue to investigate the possibility of fresh investment as a priority."

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