Taylor dismayed by Russo rejection

17 December 2009 20:05
The Hornets are now set to go into administration following the decision by Russo and his brother Vince, the club's former vice-chairman, to reject a £7.5million rights-issue rescue package from majority shareholder Lord Michael Ashcroft.[LNB]Taylor told Sky Sports News: "The Russos will not accept an offer that is on the table which if they did accept that they would be paid back their £4.88million, but it would be paid back in three to four weeks.[LNB]"I am at a loss to understand what it is that is making them take this action. I'm starting to feel now that there must be something malicious about them. I am very annoyed because I think they are putting the whole club at risk. This is unnecessary, this can be prevented.[LNB]"We have a situation available to us which would stop us going into administration but they are refusing to accept that. Why? Does he see a chance that he is going to come in and buy it himself?"[LNB]Taylor added: "I've spoken to Sir Elton John and he is at a loss to understand why this is happening. He himself is more than disturbed that the Russos are taking this course of action."[LNB][LNB]

Source: Team_Talk