THE crisis that is gripping first division clubs has taken another twist with news that Watford have asked the majority of its players to take a 12.5 per cent pay cut.

But, despite rumours to the contrary, that is not a path that the Clarets are going to have to go down.

Chief Executive Andrew Watson vowed today: "We will not be asking any of our players to take a pay cut and we don't feel we can.

"The players at this club have signed contracts and as a club it is up to us to honour them. What the news from Watford does show is that a lot of other clubs in the first division are in a similar position to ours and looking for ways to make things better.

"Ipswich has had to do something similar to Watford and we know that almost all of the clubs in the division are struggling. It is the first division clubs that have been hit hardest."

The move by Watford has been condemned by the Professional Footballers' Association's Gordon Taylor but the club claimed they need to raise £9.5million in the next few days to avoid becoming the latest club to go into administration.

It has been suggested that the likes of manager Stan Ternent, star players Glen Little and Steve Davis and even Watson himself have been approached about having their wages trimmed.

But Watson insisted that is not the case although he repeated that everyone at the club is working hard to improve the financial situation that has been critical ever since the collapse of ITV Digital earlier this year.

Watson reiterated to supporters at a meeting last night: "I can assure you that the club is not going to go bust in the next three weeks.

"The players have been doing a terrific job on the pitch in the last few weeks, being unbeaten in the last six games, and at the same time we are trying to get things right off it."

Ternent has been forced to wait to see whether he can afford to sign midfielder Lennie Johnrose for another month although he confirmed this morning: "I'll speak to the chairman today, and will make a decision tomorrow."