by Royal Spangle »
23 Aug 2009 17:22
A Frigging disgrace by Mr Ego :-Watford chairman Jimmy Russo reveals the truth behind Reading ending their interest in Tommy Smith
5:00pm Sunday 23rd August 2009
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By Frank Smith »
Watford chairman Jimmy Russo has revealed that despite Tommy Smith being on the verge of joining Reading, the Royals have now pulled out of the running to sign the forward.
It was claimed Reading had matched Sheffield United's successful £1.8m bid but Russo has released a lengthy statement on the club's website denying this.
“Despite claims in the press to the contrary, Reading did not match our valuation of the player,” Russo said.
“The guaranteed fees they proposed were less than what was acceptable and the rest of their bid was based upon "jam tomorrow" add ons, which included a hefty proportion based upon Reading achieving promotion to the Premier League.
“In any event, I was told on Friday by a Reading representative that Sir John Madejski has withdrawn Reading from the race to sign Tommy and that they are moving on to other targets.”
Former Watford manager and current Reading boss Brendan Rodgers has previously stated that Smith wanted to reunite with him at the Madejski Stadium.
And Russo claims the deal was set to go through when Reading pulled the plug due to Watford's request for a £200,000 payment based on appearances.
Russo said: “It seems that our request for a £200k payment based on Tommy making a given number of appearances at Reading has prevented the deal from going through – they were that close.
“Given that the evidence available to us suggests that Brendan covets the player and Reading have netted circa £11m with the sales of Doyle, Hunt and Bikey - not to mention the huge wage savings that go with that, I have to say I was surprised when they said that they were no longer interested in signing Tommy because of a clause that is commonplace in transfers today.
“We don't really know why Reading have withdrawn their interest. The asking price was fair and they were really close to the numbers we were looking for.
“It’s up to Reading’s chairman now really and he obviously knows his own business best. It is not our place to comment on why they do what they do."
Watford sold striker Tamas Priskin to Ipswich for around £1.7m recently and Russo praised Town's representatives for the way they negotiated the deal.
The Hornets' financial problems are well-documented but Russo is adamant he will not let his star players leave on the cheap.
Russo said: “We cannot let other clubs take advantage because they feel they can exploit the financial position that the previous regime has left us in.
“We showed in our dealings with Ipswich and Tamas Priskin that we understand the value of our players and that we are fair in our dealings.
“It is exactly the same with Reading and