Here are just a few of the questions that they answered live on air.
FROM Terry Burden, Borehamwood
Q. Many thanks from all Watford supporters for your support. Can you tell me how, when other clubs have debts of £10 to £70 million they get away with it and all we have is a cash flow problem due to small crowds and the cost of top flight players and we are being crucified. WHY?
A. I think we're still paying the price of the problems in the Vialli days. But we don't want to trade as a club always losing money, we want the club to be in a healthy position, to buy players and compete in the First Division for at least the next season.
FROM Craig, Dartford
Q.What kind of budget has Ray got for next season if any?
A. At the moment we're working to an extremely tight schedule on budgets, but we will do as much as we can to get the funds.
FROM Iris
Q. Are you going to renew the contract of Micah Hyde because he is a very important midfielder?
A. Micah is a very good player. The decision as to which players' contracts are renewed and who will be released is purely down to the manager. Like all good business practices there is a budget and it's down to the manager to pick who he wants to stay. We've got to be realistic. We don't want to go out and borrow even more money and find ourselves in more trouble. We want to be sensible. We accept that it's been painful for some time now but we also believe that we can turn that round.
As a board, we are now looking at every single piece of expenditure and every income stream. We're trying to generate more money and there will be a percentage of the turnover allowed for players wages.
FROM Simon Conway, Harrow
Q. What are the plans for the next five years, and are we REALLY going for promotion?
A. Yes. Hopefully next season we can get into the play-offs and we're hoping that in 2006 we can be somewhere close, ready for the Premiership. We're pushing hard for it. We wouldn't have joined the club if there was no ambition there. You've just got to look at the other Board members. When you mention promotion their eyes light up! We want it for the club and the fans. Promotion is paramount - that's the target. It's not just to sit comfortably mid-table in the First Division.
FROM Peter Stevens in Croxley Green
Q. I am a life long supporter, a season ticket holder and a member of the Watford Supporters Trust. I think it is essential that the board builds closer links with the supporters. Will you consider bringing a supporters representative on to the WFC board very soon so that any important matters, concerns and issues raised can be properly discussed? Other clubs have this arrangement - so why not Watford?
FROM Pete Fincham, Watford Supporters' Trust
Q. When will the Supporters Trust see representation on not just the football Board but also the company plc Board?
A. That's something that we would have to put before the next Board meeting. At the moment I'm very keen to keep it as tight a board as we can. That's my opinion at the moment.
It's our aim as well [as the fans] to be successful. We are all sharing the same goal. At the moment with a tight board we make decisions quickly. That's not to say that the fans can't bring something to the equation but at the moment we've only just come on board and we need a bit of time to get our feet under the table.
FROM Keith Humphries in Abbots Langley
Q. Are there any further new investors likely to join in the foreseeable future. Are you active in trying to get Vinnie Jones more involved in the club? Is there any chance of Elton John becoming more involved again?
A. The club is always looking at new investors but it got to be for the benefit of the club and not for somebody's ego. As for Elton - I saw an interview recently where he said that unfortunately because of his commitment to his music he can spare very little time for Watford but I think Elton rings in quite often to see how the club is doing.
But if anybody's got some more money to put into the club, it's always welcome!