Watford chairman Raffaele Riva resigns 'to focus on other business interests'
Wednesday 2 November 2016 19:30, UK
Watford chairman Raffaele Riva has announced that he is stepping down from his post.
Riva, who became chairman in 2012, says he has taken the decision in order to concentrate on other businesses he is involved in.
The announcement follows the news that Watford are to be investigated by the English Football League for allegedly supplying false financial information.
Watford could potentially be fined or even have points deducted, after The Daily Telegraph alleged that the club submitted a forged banking letter when Gino Pozzo became their sole owner.
Riva said: "I have decided to step down as chairman of Watford in order to focus on my other business interests.
"For the past four years I have acted with honesty and in good faith in all my dealings on behalf of the club, and the club has developed and grown a great deal in this period.
"I fully refute, and will protect vigorously my integrity against, any recent speculation. It will always be a source of great pride and honour to have been chairman during a period that has overseen such growth.
"Watford has done exceptionally well in the current season and I wish the club and its wonderful supporters nothing but future success."
Riva's role will be assumed by CEO Scott Duxbury, who teamed up with Pozzo to release a message to Hornets fans on Wednesday night, which addressed the recent allegations.
The duo insisted the club "acted with honesty, integrity and in good faith at every step and is not guilty of any wrongdoing".
