By Paul Holmes
August 6 2002

Watford have sold their ground in a bid to raise funds. The club have sold Vicarage Road to unnmaed buyer for £6million, they will however rent the ground from the new owners at a rate of £630,000 a year.

The club have been hit hard by the reduction in TV money and have already sacked several high-earners at the club including former manager Gianluca Vialli.

Another condition of the agreement is that the club have the option to buy the freehold back during the 35-year lease. An option the club intend to take up.

Watford chief executive Tim Shaw revealed the thinking behind the sale when talking to the official site. "The reason for this decision is that it is part of a plan to bring financial stability back to the club.

"We have complete security of tenure at Vicarage Road and as stated previously we have no intention of moving anywhere.

"The reason for this decision is that it is part of a plan to bring financial stability back to the club. "We have complete security of tenure at Vicarage Road and as stated previously we have no intention of moving anywhere.

"The directors need to finance the loss of ITV Digital money and decisions that we made last year concerning the playing side of the club."

"The directors need to finance the loss of ITV Digital money and decisions that we made last year concerning the playing side of the club."