[2] In January 2008 Watford sold captain Gavin Mahon and top scorer Marlon King, but purchased Mat Sadler, Leigh Bromby and John Eustace.

[3] Watford finished the 2007–08 season in 6th position, and were eliminated in the play-off semi finals to Hull City.

As 6–1 aggregate winners, Hull qualified for the final at Wembley Stadium, and as a result of victory in that match they earned qualification to the Premier League for the 2008–09 season.

The company's annual accounts were released in November 2008, showing an operating loss of £10.977 million, but a net profit of £426,000 as a result of the sale of player registrations and land.

The club's other major shareholders were Deputy Chairman of the Conservative Party Michael Ashcroft through his investment company Fordwat, and brothers Jimmy and Vince Russo through their business Valley Grown Salads.