Watford have blamed the financial crisis surrounding the collapse of ITV
Digital for the sacking of Gianluca Vialli as manager last week.
ITV DIGITAL FALLOUT
Watford have blamed the financial crisis surrounding the collapse of ITV
Digital for the sacking of Gianluca Vialli as manager last week.
Chief executive Tim Shaw admitted in a statement today something had to
give and said: "These are the worst times I've known for this club. The main
reason behind most of the current decisions is the club has to reduce its costs
in order to ensure future financial stability. We must not bury our heads in the
sand. Our club has just been denied a future-guaranteed income of at least
£2m for each of the next two years. This is not the club's fault."
give and said: "These are the worst times I've known for this club. The main
reason behind most of the current decisions is the club has to reduce its costs
in order to ensure future financial stability. We must not bury our heads in the
sand. Our club has just been denied a future-guaranteed income of at least
£2m for each of the next two years. This is not the club's fault."
"Given we have to reduce our costs, we simply cannot now afford to keep
Luca as our manager. "
He added: ""For those of you that think the board should resign, I'd like to say
two things - your frustration should be directed at Carlton and Granada, not
us."
Luca as our manager. "
He added: ""For those of you that think the board should resign, I'd like to say
two things - your frustration should be directed at Carlton and Granada, not
us."
Elsewhere:
Second Division Notts County are the latest club to go into administration in
the wake of the ITV Digital collapse.
the wake of the ITV Digital collapse.
The world's oldest Football League club have been in existence for 140 years,
but are struggling to cope with mounting debts.
but are struggling to cope with mounting debts.
Paul Finnity, of High Court-appointed joint administrators Kroll Buchler
Phillips, said: 'Unfortunately, following the failure in its attempt to renegotiate
its debt Notts County have been placed in administration in order to provide it
with protection whilst it seeks to resolve its financial difficulties.'
Phillips, said: 'Unfortunately, following the failure in its attempt to renegotiate
its debt Notts County have been placed in administration in order to provide it
with protection whilst it seeks to resolve its financial difficulties.'