Date: 31st May 2012 at 4:07pm
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Owner Laurence Bassini has revealed that he is in negotiations to pay off the club’s bondholders.

There is the small matter of £7.5m still due to be paid to bond holders Graham Simpson, Michael Ashcroft and David Fransen with £2.5m having already been paid.

After days of speculation about the club’s future, sparked by the Watford Observer’s former sports editor Kevin Affleck, there looks to be some clarity on the matter.

Bassini will also look to clear the club’s £1m overdraft facility.

The negotiations are ‘with the lawyers’ at present according to The Watford Observer.

It has also been revealed by Bassini that he the new East Stand will be named after former manager and chairman Graham Taylor, who left the club yesterday.