Watford shake-up brings in new cash

Six Watford directors have resigned to clear the way for the arrival of new investors and a major shake-up in the way the club is run.

Chairman Graham Simpson today confirmed that David Meller, David Lester, Charles Lissack, Chris Norton, Haig Oundjian and Tim Shaw have stepped down as non-executive directors of parent company Watford Leisure. All six will remain on the board of Watford Football Club.

They are expected to be replaced by two new directors, Jimmy and Vincent Russo, who, together with Simpson, are making a cash injection of £4.5million.

As Standard Sport revealed last week, the millionaire Russo brothers, who made their fortunes selling salad to supermarkets, want to take an active role in the future direction of the club.

A Watford spokesman confirmed the resignations - which follow on from director Michael Sherwood's departure last week - will lead to the "formation of a small and more effective board".

The outgoing members of the board have overseen a turbulent time at Vicarage Road.

Badly hit by relegation from the Premiership in 2000 and a disastrous season of extravagant spending under former coach Gianluca Vialli, the club have struggled financially.