"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."
So there we have it. Thanks Brendan for settling the side and securing a comfortable finish in the Championship and best of luck for the future. These things happen. Now Watford must look for a new manager.