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Fordwat increases Watford FC loan
By Pete Hayman
Watford Football Club (WFC) has been provided with a further £500,000 by shareholder Fordwat towards the club's "working capital requirements" as part of an existing loan agreement.
Fordwat - controlled by Conservative Party deputy chair Lord Ashcroft - has now loaned the Coca Cola Championship club more than £6.5m at a 4.5 per cent rate of interest. Watford Leisure - WFC's parent company - announced to the London Stock Exchange that the loan has been provided while the club awaits the completion of a share issue.
A Watford Leisure spokesperson said: "The secured loan is intended to be cancelled as part of the company's proposed issue of secured bonds with detachable warrants in due course."
Watford Football Club (WFC) has been provided with a further £500,000 by shareholder Fordwat towards the club's "working capital requirements" as part of an existing loan agreement.
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