Watford

Odds: 5000/1

Last Five Seasons
2005/06 - 3 (Championship, Promoted), 2004/05 - 18 (Championship), 2003/04 - 16
(Championship), 2002/03 - 13 (Championship), 2001/02 - 14 (Championship).

2005/06 Cup Progress
FA Cup Third Round vs Bolton Wanderers (h) - lost 3-0.
Carling Cup Third Round vs Wigan Athletic (a) - lost 3-0 after extra time.

Top Goal Scorer 2005/06: Marlon King (striker) - 22 goals.

Players In
Dan Shittu (Queens Park Rangers - 1,600,000), Damien Francis (Wigan Athletic -1,500,000), Tamas Priskin (Gyori ETO - Undisclosed), Claude Seanla (Tottenham Hotspur - Free), Chris Powell (Charlton Athletic - Free), Ben Foster (Manchester United - Loan).

Players Out
Jamie Hand (Chester City - Free).

Watford enjoyed a remarkable turnaround in their fortunes following the appointment of Adrian Boothroyd last summer. They went from the bookmaker's favourites to drop into League One to Championship play off winners in 10 months and return to the Premier League for the first time in six years.

Like Reading, Watford have not spent much money on new signings, with only Dan Shittu and Damien Francis commanding transfer fees. Queens Park Ranger defender Shittu, signed for an initial 1.6 million although this could rise to 3 million depending on appearances. Shittu moved to Loftus Road from Charlton Athletic for 350,000 in 2002.

Francis returned to London following an unsuccessful spell at Wigan Athletic last season for a fee which could be worth up to 1.5 million. Veteran defender Chris Powell joined on a free transfer from Charlton Athletic and signed a one year deal.

A couple of young players have joined the club in Tottenham Hotspur's Claude Seanla, an 18 year old Ivory Coast born striker and Hungarian striker Tamas Priskin who signed from Gyori ETO for an undisclosed fee.

A whole host of players have committed their futures to the Vicarage Road club following their return to the top flight. Captain Gavin Mahon signed a two year contract extension following his 150,000 switch from Brentford four years ago.

Defender Lloyd Doyley, one of the club's longest serving players with over 100 league starts to his name following his debut in 2001, signed a one year extension to keep him at the club until 2008 while veteran goalkeeper and coach Alec Chamberlain signed a new one year contract to start his eleventh season at the club. Jay DeMerit and Al Bangura have also signed extensions until the summer of 2009.

Verdict
The bookmaker's favourites for relegation and rightly so. Last season's top goal scorer Marlon King is untried at this level and the Hornets could struggle at both ends of the pitch. The 4/7 on relegation should give you a better than 50% profit on your investment.