Chairman Ray Taylor told us this morning: "We first spoke about the loan 12 months ago - it's been a long time coming. This is vital part of our plans to take this club forward."

Ray also revealed that, despite what's being said in some circles, Hornets have defied critics and run at a profit since 1st December 2003. This is due to a significant reduction in costs, the injection of new sponsorships, the money raised by our Challenge Cup run and the fact that crowds have remained steady and in some cases increased over comparable games last season.