£500,000 loan for buying new players!!

Discussion in 'The Transfer List' started by IRB, Jan 25, 2010.

  1. leighton buzzard horn

    leighton buzzard horn Squad Player

    He is indeed a die hard Watford fan.
  2. Optimistichornet

    Optimistichornet Penguin Assassin

    so does anyone know if the rights issue is still going ahead? or when it will go ahead?

    i know there was a wobby article about it, but the silence on it seems ominous!
  3. Keano

    Keano Reservist

    its been only 1 working day since WO article saying no date set.....
  4. virgin

    virgin First Year Pro


    Optimist,asked & answered already.is that headache getting worse?
  5. Optimistichornet

    Optimistichornet Penguin Assassin

    no i just ignore all your posts ;)
  6. Optimistichornet

    Optimistichornet Penguin Assassin

    yer i know that, and the article was really what brought it to the forefront of my mind.

    just hope ashcroft isnt having second thoughts or anything you know?
  7. virgin

    virgin First Year Pro

    So how did you come to reply?
  8. Cude>2<

    Cude>2< First Team Captain

    You're posting...?
  9. virgin

    virgin First Year Pro

    Not til appx 5.30 when L`s shift work is over, in order to avoid his provocation.

    Still,there is always yourself.
  10. Cude>2<

    Cude>2< First Team Captain

    My God, you're an observant one.
  11. virgin

    virgin First Year Pro

    Cude, you are clearly DESPERATE for my attention, and I regard this as unhealthy in the extreme.

    I am sure that Leighton will lend you his collection of TV instruction guides,1957-2010 inc, that you can use to take your mind off me.
  12. Cude>2<

    Cude>2< First Team Captain

  13. PotGuy

    PotGuy Forum Fetishist

    1957 was a golden year for television instructions. The Bang and Olfusen Beo799 was a particular highlight.

    It was not only in no less than 17 different languages, but very clear instructions correlated by part number - very useful.
  14. Moose

    Moose First Team Captain

    Is this 500k enough for us to afford recalling Nathan Ellington from his loan?

    What? F'sakes, don't knock it until you've considered it thoroughly.
  15. Defunct

    Defunct First Team

    User "Virgin" now has a permanent ban. I don't think I've had so many reported posts, complaints and petty arguments in such a short time, plus I know for a fact that some people have simply stopped posting whilst he/she continues to troll the forum.

    Game over.
  16. With A Smile

    With A Smile First Team

    Blimey - and i thought he was just trying to be funny and impose a position on the board.

    Ho hum
  17. UEA_Hornet

    UEA_Hornet First Team Captain

    Hmmm...difficult balancing act. Must be the first person to get a total ban from here in over a year? A shame really but virgin was given enough hints.
  18. afanof

    afanof First Team

    Won't he just come back with another name but sounding just the same? Isn't that how it works?
  19. Chumbo

    Chumbo First Year Pro

    :]] Finally I can come back :]]
  20. krisvad

    krisvad Forum Viking

    I can't believe Admin is the only one in this fred with this point of view. Spending money we didn't have is the reason for our troubles in the forst place. Borrowing to pay off immediate debts is one thing but borrowing to bring players in is stupid imho. Not only that but it is also very risky - especially with the set date for repayment.

    I don't like to see us spend money we don't have on players when we're already deep in financial poo.

    I know you'll be saying "we need the cash to survive/make a push for the playoffs", but I say "this is the situation and the circumstances we have and Malky knows it. His job is to make sure we survive in the league with the restraints and the reality we have".

    IMHO Malky's job is to make sure we survive with the squad we have. I know it's not going to be easy but no one ever claimed it was.

    STOP spending money we don't have and get the players playing football again. Simples!
  21. Berkohorn

    Berkohorn Reservist

    I don't know if it has been said already in this thread but not all the 500k is for transfers. There is a certain percentage needed for operational running costs.

    Also aren't Pompey due to pay us another instalment about now? If that doesn't materialise then there are problems. If Willo goes to Newcastle I assume that we will have done a deal over this?
  22. Prentice

    Prentice Administrator

    In a wonderful world well that's all well and good, it's possible, but most working organisations have to use an overdraft or borrow from time to time.
  23. With A Smile

    With A Smile First Team

    The whole transfer system should be changed.

    Pay the price for a player and pay it upon sale. None of this half now a bit later, some oneday, etc.

    Agree 500k then pay 500k. Sell on clauses should be allowed but this rubbish about 50, 80, 100 appearances, or playing a full international in albania during the month of october on a tuesday night wearing the number 27 shirt should be banned.
  24. The Voice of Reason

    The Voice of Reason First Team Captain

    Agreed :sign15:
  25. wfcSinatra

    wfcSinatra Predictor Choker 14/15

    David Fransen loans us 500K

    Watford boss Malky Mackay gets a January transfer boost

    Watford manager Malky Mackay's January transfer plans have received a boost after non-executive director David Fransen loaned the club £500,000.
    Geneva-based Fransen joined the board in March last year and is managing director of energy company Vitol S.A.
    The loan is designed to help Mackay bolster his squad during this month's transfer window, and has to be repaid by the end of May.
    Meanwhile, young keeper Jonathan North, 18, has joined Oxford City on loan.
  26. TheDon

    TheDon First Team

    Really? :eek:
    Great news.
  27. Layton

    Layton First Team

  28. His Royal Hornet

    His Royal Hornet Top Quality Banter

    This was widely reported yesterday, here is the article from the WO:

    Watford non-executive director David Fransen has loaned the club £500,000 to assist with the "working capital requirements of the business including potential player transfer activity during the January transfer window."

    Fransen, who joined the board in March last year and is based in Geneva, is a lifelong Watford fan and managing director of energy company Vitol S.A.

    The Hornets needed a cash injection before the end of January to pay its bills but it is unclear why it is Fransen and not major shareholder Lord Michael Ashcroft who has loaned the money.

    Lord Ashcroft, whose company Fordwat own 37.16 per cent of parent company Watford Leisure Plc, has offered to underwrite a £7.5m rights issue to raise much-needed cash and loan the club money prior to the proposal taking place.

    Last week the Hornets confirmed Lord Ashcroft had not loaned Watford Leisure or the club any more money following the £4.93m in December but reiterated he was still prepared to do so.

    However, a statement which will soon be released to the Stock Exchange read: "Watford Leisure announces that on 25 January 2010, the Company's 96 per cent. owned subsidiary, The Watford Association Football Club Limited ("WAFC"), entered into a loan agreement with David Fransen, a Non-Executive Director of the Company. The agreement is in respect of a short term unsecured loan of up to £500,000 to WAFC for the purpose of assisting with the working capital requirements of the business including potential player transfer activity during the January transfer window (the "Loan").

    The Loan accrues interest at the rate of 3..5 per cent. above the base rate from time to time of Barclays Bank plc and is repayable on or before 31 May 2010.

    The provision of the Loan is deemed to be a related party transaction under the AIM Rules for Companies. Accordingly, the independent directors of the Company consider, having consulted with Strand Hanson Limited, that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned."
  29. With A Smile

    With A Smile First Team

    I'm suprised no one managed to pick this up yesterday. It would have been quite a good talking point
  30. theorns

    theorns Reservist

    Fantastic news
  31. Spud

    Spud Squad Player

    Whooppee do
  32. Cude>2<

    Cude>2< First Team Captain

    It isn't April Fools Squibba give it up.
  33. mean

    mean Reservist

    We have probably just spent this on Buckley
  34. yelnred

    yelnred First Year Pro

    Gives us the money to replace our two star loans from Arsenal & Man U. So building for next season? Need a new MM as a CH urgent or it will be League 1
    Last edited: Jan 27, 2010
  35. afanof

    afanof First Team


    Totally agree, krisvad.

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