WATFORD FC regret to announce the departure of manager Brendan Rodgers to Championship Club Reading, he leaves his position after only seven months in charge at Vicarage Road.
Following contact from Reading on Friday requesting permission to talk to Rodgers, Watford Chairman Jimmy Russo initially rebuffed this approach. Then over the weekend Rodgers expressed his desire to have the opportunity to speak to the Berkshire based outfit.
Russo said: "Following speculation over the Reading vacancy I had spoken to Brendan only last week and he had assured me that he was 100% committed to Watford FC and our plan for the future.
"Once Brendan had confirmed his desire to discuss the opportunity and Reading had met a contractual compensation figure, we were powerless to prevent him doing so.
"I then spent up until Monday evening negotiating with Reading a vastly improved compensation package, starting at £500k and potentially rising to £1m.
"We also had a frank and open conversation with the manager on Monday afternoon to further understand his position. It was at this stage he strongly reinforced his desire to talk to Reading."
Northern Irishman Rodgers had an interview with the Berkshire based outfit on Tuesday.
The club is disappointed and saddened to lose Rodgers after he joined in November 2008 from Chelsea on a 12 month rolling contract.
The new-look board at Vicarage Road, led by Chairman Russo, has been open and honest with Rodgers about the club's financial position following the end of Watford's parachute payments.
The board had been working with Rodgers for several months on the club's five year plan and vision for the future, which brings stability allied with what it believes will be a competitive team in line with the current strong and proven recruitment process.
Watford is going through a transitional phase, as all clubs do when they come out of the Premiership, but everyone at Vicarage Road was looking forward to the new season, following the encouraging start made to managerial life by Rodgers.
Following the departure of Rodgers as manager, the board remain strongly optimistic for the future and will meet to discuss the options available moving forward.
Whilst incredibly disappointed to lose Rodgers, the club would like to place on record its thanks to Brendan for his contribution during his time at Vicarage Road.
