Championship football club Watford may be languishing in mid-table obscurity, but it could soon attract a new owner.
Watford Leisure, the company behind the club, confirmed reports that Lord Ashcroft, the Tory peer, is in talks about selling his 37.16% stake to an unnamed buyer. This would then trigger an offer for the whole business, but Watford warned the discussions were at an early stage and might lead to nothing.
Ashcroft holds his stake through his Fordwat company, while Valley Grown Salads - owned by former Watford chairman Jimmy Russo - has 29.98%. Another ex-chairman Graham Simpson owns 16.79%.
In the market Watford Leisure shares have jumped 2.5p to 9.5%, valuing the business at just over £4m.
