From BBC Boothroyd hails new Watford era Watford boss Aidy Boothroyd heralded an exciting new era after the club was granted permission for the first phase of £32.5m development of Vicarage Road. The ground's capacity will eventually increase from 20,000 to 24,000. Boothroyd said: "It is what happens on the grass that counts because there is no point having a great stadium if we have no-one to fill it. "We have to make sure we have both. It is a very exciting place to be. The whole club is moving forward." The initial work involves a housing development at the Rookery end, which will accommodate key workers from neighbouring Watford General Hospital. The Hornets eventually want to build a new East Stand to increase the capacity. The project is jointly funded by housing association Origin. Work on the first phase will begin in May. Watford chairman Graham Simpson said: "This is a pivotal moment in the history of this great club. "This will now enable us to look forward to a new era of life at Vicarage Road and push on towards our goal of redeveloping the East Stand." Origin are contributing £19m to the initiative, which will lead to 180 homes being built. The club will contribute £13.5m, of which Origin will guarantee a further £4m, with £3m coming from the revenue Watford expect to make during the next three years. Watford plan to raise the remaining £6.5m through long-term bank loans or raising funds through the sale of shares.
