The financial crisis surrounding the collapse of ITV Digital was the main reason why Watford sacked manager Gianluca Vialli last week. The Division One club terminated the Italians contract last Friday after the club's costs rose by a reported £4 million in his first six months in charge.
The decision came after big-name signings were offered Premiership wages at Vicarage Road but they later failed to win promotion. The main reason behind most of the current decisions is the club has to reduce its costs in order to ensure future financial stability. "These are the worst times I've known for his club," said Chief Executive Tim Shaw.
Watford dismissed Vialli's number two Ray Wilkins earlier in the week, along with fitness coach Giovanni Vaglini, doctor Ian Beasley and masseur John Kelly. But the former Chelsea coach refused to quit and will seek a costly pay-off from the club, who decided last season's 14th place finish in Division One was scant return for his high salary.
Filed by James Shortt
