Date: 29th July 2008 at 9:44am
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The Watford Supporters Trust have declared themselves to be in a state of “surprise and disappointment” with the recent article in the Watford Observer, suggesting the club was in financial meltdown and facing administration.

The Watford Observer ran a lead story on Friday which stated the Hornets board had informed gaffer Aidy Boothroyd that he needed to raise £10m by September 1 or run the risk of administration. The club have since confirmed they will be seeking legal advice against the local newspaper and have described the financial plight of the club as “a million miles away from that situation”.

Many Glory Hornet followers have called for the Supporters Trust to throw in their 2-penny worth and they have duly obliged with a balanced argument that promises to delve deeper.

In a statement made by Trust board members Graham Sterry and Frances Lynn, the fans body said “We have no indication that the finances are in such a dire state as that asserted in the Watford Observer article”.

They added “If the Watford Observer article is correct in its assertions then we have been grossly misled to a degree that would turn our own conclusions on their heads. If they are not, the Watford Observer has done Watford Football Club, its supporters and the local community a grave disservice”.

The Supporters Trust have also confirmed that their treasurer Alice Arnold has been invited to examine the clubs finances again in light of the allegations.

A full version of the Supporters Trust statement can be found HERE