Elton John World News: Winner Takes All

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News About Watford

Wednesday 15 March 2006 @ 16:42 - GMT

According to the APLord Michael Ashcroft will become the majority shareholder of Watford soccer club's parent company.

Watford Leisure plc launched a stock issue to raise 6.2 million pounds, leaving Ashcroft with 42 per cent of the shares. He previously held an eight per cent stake.

"I have a track record of backing entrepreneurial businesses and helping the right kind of management teams realize their ambitions. Watford is a good business that is making steady and sure progress," he said Tuesday.

Ashcroft is a member of the House of Lords and deputy chairman of the Conservative Party.

"I am absolutely delighted that Lord Ashcroft has increased his investment in the club and I believe his backing will greatly enhance our ambitious plans," Watford chairman Graham Simpson said.

Watford - whose previous chairman was Sir Elton - is currently fourth in the Football League Championship . . . a division below the Premier League.

One player, a former Leeds midfielder, particularly hopes they reach the premiership.

Matthew Spring believes this could earn the squad a stay at Elton's Nice villa. Or it could persuade him to stage one of his famous parties in their honour.

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