The offer became unconditional over a month ago, watford leisure plc no longer exiists watford leisure ltd not sure but should have been registered by now. Clutching at straws DF and GT are still around. But tomorrows another day!!! my glass is looking half empty!!!
Another way of looking at it is that from being the CE of a listed PLC he has been reduced to being the CE of a fairly small company with an £8m turnover and negative net assets - maybe he is looking at bigger and better things.
Thanks Harrow yes you are right, Watford is a pretty small company and the successful amongst us would like to build that size from scratch in a max of 2 years and would be looking at turning it into a 100 million + in five, I think JW is this type of character and has the ability so could be looking for a challenge and found one. The salary frankly probably doesn't sustain him, the only strange bit is the non serving of notice but that could be of mutual convenience.
This is very bad news and a bad day for WFC. No doubt that JW had no choice but to quit, any professional would have done so after having to "work" with this clown...I dread to hear what is coming next...this could mark the start of a long winter at WFC..
My initial reaction was 'Bloody hell' but thinking about it, it waslikely to happen once the takeover was complete and there had been a period of transition. He had obviously already stepped down from one position. It does seem quick but there are two ways of looking at it: 1) it was a gross misconduct incident and he was sacked without notice - unlikely I would have thought and would trigger an issue with the bonds 2) As Harrow suggests he was a CEO of a plc, had actually achieved quite a bit in challenging circumstances and is now a director of a small football. The drop in responsibility is significant, maybe the challenge had gone? The point being maybe he wanted to quit and rather than serve a notice the period was paid upfront. Probably suited both parties, especially if he has a job lined up. (On our side we get someone in with a more long term view)
Pure speculation here: is it reasonable to assume that a clause allowing the club to pay Winter's notice immediately would have been comfortably into six figures?
i can't believe it...i've only been gone a few hours! This is terrible news..i can't help feeling very negative about things now...it all seems very bleak...looks like my contact who knows Bassini was right...certainly not someone who should have anything to do with Watford FC...
But if he's walked of own accord this wouldn't be paid and if its the other way then there must be 8 million in the cupboard
That was what I was suggesting somewhere above aberdeen. Should all of the bonds be repaid now then LA would have no say in things and none of the purchase conditions apply. The additional money could be loaded onto the club by way of loans as in the case of Man.U.
Little Miss W_Y just texted me that it has gone mad on Twitter with people calling for Pinocchio to be shot...
Absolutely OFH, maybe he got lucky with consecutive shipments from South America? Football clubs to launder money, I know the accountants on here say its difficult but I'm pretty sure its far from impossible.
He seemed like a good guy and had a good vision for the future and really helped steady the club throughout last season. I'd say this is more significant than Buckley or Graham leaving earlier in the week. This takeover is looking more and more negative with every departure that happens.
NO you're wrong. It will emerge that Winter left by "mutual consent", however a confidentiality agreement will have been signed and an ex gratia payment made of approx £150k. With Winter gone, how long will GT last?
