Big backing: Lord Ashcroft has called for the club to cut their transfer spending
David Yuill11 April 2012
Watford Supporters' Club chairman Graham Sterry today backed the decision to dramatically rein in spending at Vicarage Road.
The Championship team narrowly avoided going into administration in December, since when Lord Ashcroft, the club's major shareholder, has agreed to underwrite a £7.5 million rights issue.
Sterry said today: "There is now a business plan using an affordable model. Players will only be coming in for low fees or free transfers. Gone are the days of spending millions on players. I mean £3million on Nathan Ellington defies logic."
