Ten days of turbulence
A 2-1 defeat to Peterborough became Watford's fourth consecutive loss on the road, but the team's form was completely overshadowed by the turmoil which surrounded the club in the days leading up to the fixture.
The Hornets' financial problems have been well documented in recent months, but things finally came to a head at last Tuesday's AGM.
Having resigned as chairman and vice-chairman respectively, Jimmy and Vince Russo immediately requested to be repaid the 4.88m loan lent by their company Valley Grown Salads, with several sources suggesting that the brothers would take the club into administration should the money not be paid.
A game of brinkmanship quickly unravelled between the Russos and Watford's major shareholder Lord Ashcroft before the matter was settled on Friday evening.
Ashcroft's Fordwat Investment eventually fronted the loan repayment, but this was only after a heated battle of political manoeuvering with the outgoing chairman and his brother.
With the club's fate seemingly on the line, the Russos announced their resignation from the board and requested the loan to be repaid before the end of business.
The Italian duo had tabled an offer to buy the club upon declaring their resignation, but with Russo delaying the loan repayment until the following day, the tables were quickly turned as Ashcroft proposed to underwrite a 7.5m share issue to save the club.
This proposal was swiftly rejected by Russo, but wit the former chairman not prepared to condemn the Hornets to administration, he called for discussions with Ashcroft with all prior negotiations happening through middle-men.
Playing his final hand in the matter, Ashcroft eventually agreed to repay the Russos their loan to end a chaotic few days at club.
While the Russos have been vilified for their actions, notably by interim chairman Graham Taylor, it remains to be seen just how vindictive their intentions were with Jimmy Russo telling BBC Radio 5 Live:
"It has rescued the club and it is good for the club and I'm delighted. I didn't want to put them into administration.
"I wish the football club all the best and they have got a good future."
While the Hornets were eventually given a lifeline on Friday, an interim board led by Taylor will be standing by nervously as the club attempt to provide the money required to meet a deadline set by its parents company Watford Leisure PLC at the end of November.
Reports on Monday suggested the club are close to finding a resolution regarding the imminent payments which are due.
It is also believed that Lord Ashcroft may still be willing to underwrite the rights issue but although safe for now, the future of Watford Football Club remains very much in the air.
Back on the pitch, and Malky Mackay's men handed Peterborough a rare win on a freezing cold day at London Road.
Lee Frecklington gave the hosts a ninth minute lead, only for John Eustace to equalise shortly after the interval.
Despite fashioning several chances in difficult conditions, the Hornets could not find a way past Boro keeper Joe Lewis.
A first goal for Exodus Geohaghon with 12 minutes remaining won the game and continued Watford's dismal away form.
The result means the Hornets drop to 13th in the Championship, and host an in-form Nottingham Forest on Boxing Day.
Meanwhile misfiring striker Nathan Ellington has agreed to join Greek outfit Skoda Xanthi FC in a 12 month loan deal.
The forward was signed for a club record 3.25m in August 2007 but has been unable to meet the demands which such a transfer brings.
Xanthi will have the option to sign 'The Duke' on a permanent deal once the loan comes to an end.
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Weather for Tring
Saturday 26 May 2012
Today
Sunny
Temperature: 11 C to 23 C
Wind Speed: 18 mph
Wind direction: East
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Sunny
Temperature: 11 C to 24 C
Wind Speed: 15 mph
Wind direction: East
