Watford's major shareholder Lord Michael Ashcroft wants to sell his shares in the club.

Lord Ashcroft owns 37.16 per cent of the Hornets' parent company Watford Leisure Plc but it was revealed tonight the deputy chairman of the Conservative party would like to sell his shares.

Watford chairman and former England manager Graham Taylor stated Lord Ashcroft has expressed a desire to sell up during the club's fans forum which was held at Vicarage Road tonight.

The fans forum saw Taylor, fellow director Stuart Timperley, chief executive Julian Winter and manager Malky Mackay answered questions from supporters for around two hours.

Taylor told fans that because the club is a Plc, it is not the board who ultimately decides the future of the club, it is its major shareholders Lord Ashcroft and the Russo brothers.

Winter added that anyone who takes over Watford will be “looking to the future” as the club has little debt, not “looking in the past” like other debt-ridden football clubs.

The Hornets chief executive also stated the board was investigating the possibility of public-sector partnerships in a bid to finally re-build the East Stand.

Click here to read more about tonight's fans forum at our live report