Businessman Laurence Bassini has finalised a £440,000 deal to buy Watford. The deal will make Bassini a majority shareholder along with knee surgeon Panos Thomas. The deal has been agreed by owners Lord Ashcroft, Graham Simpson and his wife Yianna. The agreement will see Bassini acquire at least 55.11 per cent of the club through a newly formed company called Watford FC Limited.
Businessman Laurence Bassini has finalised a £440,000 deal to buy Watford. The deal will make Bassini a majority shareholder along with knee surgeon Panos Thomas. The deal has been agreed by owners Lord Ashcroft, Graham Simpson and his wife Yianna. The agreement will see Bassini acquire at least 55.11 per cent of the club through a newly formed company called Watford FC Limited.
A sceptical view from a local fan site can be found here.
The former owners, Watford Leisure, reported a sharp increase in losses for the second half of 2010. Pre-tax losses for the six-month period came in at £2.5m compared with a loss of £172,000 a year earlier, despite a small rise in revenue to £5.4m.
The company said the loss was due in large part to the fact that no players were sold during this period, showing how important such income can be, Match day revenue fell £42,000 to £2m while season ticket sales fell by 1,500, but the resultant drop in revenue was only £49,000 because of increased prices. Media revenue increased by £324,500 to £2.6m, reflecting the increased revenues from this source from Championship clubs.