A quick look at the Championship table shows that Watford are having a good season. Until
recently, they were in a play-off place for a position in the Premier League. This, however, is an
almost complete illusion. Watford are having a very bad season, a season during which boardroom
wrangling seems to have long since passed the point of no return and which is now endangering the
very existence of the club itself.
When Rangers chairman Alastair Johnston extolled the virtues of shareholder democracy over
supporter-led democratic ownership at his club's recent annual general meeting, he could never have
imagined how utterly his arguments would be undermined by other events during the meeting. Not even
the latest shenanigans (for that is what they are) at Watford could provide such a compelling
manifestation of the flaws of such a system, although even as I type they are trying very
hard.
