Watford stand on the brink of administration this morning after the Coca-Cola Championship club asked for trading in their shares to be suspended.

The chairman and board of directors of Watford have all resigned at the club’s parent company’s AGM tonight, according to reports.

Watford’s proposal to redevelop their Vicarage Road ground, providing low-cost housing as part of a £32.5m (€48m) scheme, has been granted planning permission by the local council.

Watford supporters who bought shares in the club have raised £1m which will be used to help buy Vicarage Road.