Nationwide League: Fans give Watford cash boost

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

The club are planning to buy the freehold to the site, their home since 1922, and unveiled plans to build a new East Stand last week.

Their flotation on the AIM stock market this summer actually raised more than £5m in revenue, which will be used in various development projects.

Chief executive Tim Shaw said: "The take-up from supporters was very pleasing indeed, raising just under £1m. For a club of this size that is a very good result.

"The paperwork to buy the lease is with our solicitors and with the solicitors of Punch Taverns, who currently own the freehold. We'd expect that deal to be complete in September."

Fans are also being invited to have a say in plans for the new stand and the club hope to apply for planning permission by the end of the month after receiving a positive response.

Shares in Watford Leisure plc currently trade at around £1.25.