A possible legal battle with former manager Gianluca Vialli over lost wages threatens to overshadow Watford's achievement in raising £6m to help it out of financial strife. All former coaching staff have agreed redundancy settlements except Vialli - Italian World Cup hero, former Chelsea manager and the man given the task of getting Watford promotion last season. Attempts are being made to reach agreement with Vialli, whom Watford chairman Graham Simpson has admitted 'we couldn't afford'. But 'litigation is a possibility', despite the fact that 'he's loaded', according to a company spokesman, who adds that 'obviously greed has no end'. However Watford has arranged the firm placing of 4bn shares with directors and other investors (not including former chairman Sir Elton John) that will raise just under £6m at 0.15p per share. Some 2bn more shares are up for grabs from the general public through an Open Offer at the same price. The money is needed to keep the club clear of administration following the failure of Vialli's squad to achieve promotion to the Premiership, the collapse of ITV Digital and the end of Watford's entitlement to Premiership 'parachute' payments. But Watford's spokesman notes that 'now we have secured funding that is going to save us.......I bet many other clubs would love to be able to do this.' Investors who fancy topping up the war chest have until 11 December.

Watford Leisure	AIM	£8.56m	19.50p	0.00p
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