Report: Watford board quit

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

Chairman Jimmy Russo, who lent Watford Leisure plc £1m last month to enable them to pay their bills until December 22, has been in negotiations with Lord Michael Ashcroft and former chairman Graham Simpson in a bid to raise funds.

Lord Ashcroft and Simpson own more than 50% of Watford Leisure plc and it was reported in the local press Russo and his board faced being voted out after failing to reach an agreement with the duo.

However, reports are emerging tonight Russo and his board have resigned, although the club are unavailable for comment.