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Page last updated at 15:09 GMT, Tuesday, 1 December 2009

Watford chairman Jimmy Russo loans 1m to stay afloat


Watford chairman Jimmy Russo has loaned the club's parent company £1m for the club to survive the next month.

Russo paid the loan to Watford Leisure PLC on Friday but a statement to the Stock Exchange revealed they need £5.5m more to continue until the end of June.

The current loan will only be enough to cover the holding company's cash needs until 22 December.

The Hornets could need to sell players in January, with England under-21 keeper Scott Loach likely to leave.

If more funding is not available to the club, the board is expected to seek a suspension of trading in Watford Leisure's shares on the Alternative Investment Market.

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