the DTT broadcaster that held The Football League's television rights, the entire Watford project turned into financial ruin overnight. After finishing the 2001–02 First Division season in 14th place, the club ended Vialli's contract two years early and made attempts to avoid administration. Following Vialli's dismissal, the club's recently appointed chairman, Graham Simpson, promoted Byrne to the post of director of football – a newly created role responsible for player contracts, scouting and the academy. One of Byrne's first tasks was hiring the next club manager, a job that went to Vialli's assistant Ray Lewington. Watford spent most of the 2002–03 First Division season trying to come up with an acceptable financial model that would allow the club to survive now that TV money was no longer there as a revenue source. The cash-strapped club narrowly avoided administration in the 2002–03 season by instituting cost-cutting measures such as forcing players and staff to accept a 12% wage deferral and raising funds via a share issue. On 31 October 2003, it was announced that Byrne had been appointed as Beckham's personal manager from December 2003. Beckham's personal manager Byrne stayed with Watford for two and a half years before becoming Beckham's personal manager and an executive of Beckham's company, Footwork Productions Limited. In actuality, Byrne had been involved with certain aspects of Beckham's business dealings long before he formally became the player's personal manager. For example, in 2002, on Beckham's behalf, Byrne met with Tim Leiweke, the chief executive of Anschutz Entertainment Group (AEG, the company that owns the Los Angeles Galaxy and at the time also owned four other MLS franchises) in London to discuss Beckham's interest in starting a soccer academy for boys and girls with branches in London and Los Angeles. When Byrne formally came on board, Beckham was with Real Madrid, which meant the manager had to move to Spain. Only months earlier, Beckham had left his long-time representative agency SFX to join Simon Fuller's 19 Entertainment that already managed the career of his pop-star wife Victoria. For Byrne, this meant working closely with Fuller in many aspects of his new job. In 2006, Byrne launched 1966 Entertainment Limited, a joint venture with Fuller, and in 2009 Byrne acquired 100% of the company. 1966 Entertainment represents the England football team players' interests in their commercial partnership with the Football Association. Byrne negotiated Beckham's contract with the Los