Watford flying high with business class

Few clubs had their fingers burned as badly by the collapse of ITV Digital and the ensuing financial chaos as Watford.

Only now have they got their feet back on a relatively firm financial footing after two years of wage deferrals, redundancies and massive cost cutting.

Tonight, they are hoping for a full house at Vicarage Road for the visit of Southampton in the Carling Cup.

Should they win, there is the possibility of a lucrative televised quarter-final against one of their four remaining London neighbours.

"I wouldn't like to say things are looking good because they can always get better," said Mark Ashton, Watford's 33-year-old chief executive.

"We are not trying to raise our aspirations too much and get carried away. We will not stretch ourselves and will work to the plan we have put out.

"It is about securing the long-term future of the football club. I think it is wrong to rely on sugar daddies. Football is a business and should be run as a business."

Central to the club's prospects was the campaign to buy back the freehold to Vicarage Road after it was sold in July 2002. Ashton said: "It is probably the single most important thing the club has ever had to deal with. It allows us to begin the redevelopment of the stadium and guarantee our future."

Short-term loans from Barclays and the club's directors enabled Watford to buy back the ground for £7.6million last August, but the club would like to pay off those debts within 12 months.

Although a concert at Vicarage Road next June by Sir Elton John will help pay off around £1m, that still leaves the not inconsiderable matter of more than £6.5m.

Ashton revealed: "We're going to make a major announcement in the new year, which will explain how we will pay off most of this money."

But he denied that Watford intend to cash in on the proposed relaxation of the UK gaming laws by forging an alliance with a Las Vegasbased casino group.

"In consultation with the council we believe it is not for the club at this time," he said. "We didn't think it was right from a moral point of view."

Ashton, who admits to being "very driven", took over at Vicarage Road last June following a 16-year spell at West Brom.

He had joined the Midlands club as a promising goalkeeper but, after prematurely ending his playing career at 20 due to a knee injury, he stayed on at The Hawthorns as a coach before progressing to the business side of the club.

Stints in the community, marketing and commercial departments have given him insights into how to increase turnover at Vicarage Road.

"We have very limited conference and banqueting facilities at the moment," said Ashton. "We have limited car parking and want to extend that. We know that the ground needs to be redeveloped and hope to start work on that in the next year or two.

"I go to all Watford's matches and speak to other boards about how they run their clubs. I would want to replicate the good business model of West Brom here. You can also cherry pick the best pieces out of other clubs, like the catering at Norwich."

Ashton is well aware that success off the field is very dependent on success on it.

He has been impressed with how the team have climbed to ninth in the Championship under Ray Lewington. He said: "Each season all you can ask for is progression from the previous season.

"At the moment we are way ahead of last year. But we are under no illusion that we are going to get in the play-offs.

"If we did, that would be a massive achievement."

Ashton denies that the club have failed to provide manager Lewington with enough financial backing.

He said: "The playing budget is very competitive and we have an outstanding academy.

"I think it is about developing the squad on a sensible basis. Big spending will not guarantee you success.

"If we are eighth in the league at Christmas, we are not going to spend £3m on a player. But every request that the manager has regarding a player will be considered."

Ashton is effusive in his praise of Lewington, who was rewarded with a new contract last month. "I have been involved with 13 managers and I enjoy working with Ray the most. He is a really good guy who knows exactly what he needs to do with the team.

"Our aim is to achieve sustainable Premiership football."

  • Watford v Southampton, Vicarage Road, tonight, 7.45pm

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