Watford Football Club is on the brink of administration after the Championship club asked for its shares to be suspended on AIM. Its parent club, Watford Leisure, has been asked to pay back £4.9m in loans before the close of business today. Yesterday chairman Jim Russo, and directors Vince Russo and Robin Williams resigned from the board. The board warned that the company may be put into administration if a funding solution is not found. Independent accountants would then be in charge of the club and an automatic 10-point penalty on the team would be triggered. This would see Watford drop to one place above the relegation zone. Valley Grown Salads, a company in which the Russos have stakes, have called in a loan of £4.88m.