Wednesday, December 16, 2009

Administrative error

After posting about the current financial woes of the physics and astronomy community I saw some other depressing fiscal news. It seems that Watford may be facing administration! We're being asked to pay back almost £5 million in loans (from a salad supplier!) by close of business today, which looks kind of unlikely. If we do fall into administration then the Football League will automatically deduct 10 points from us, and leave us just above the relegation spots - not a fun place to be. I really hope we don't go the way of Luton.

[Update: We seem to have been saved from administration after our major shareholder Lord Ashcroft stepped in and agreed to pay off our loan. We out of the worst for now, but there may be other problems going into the future. Unfortunately we lost our game today.]