Laurence Bassini

Laurence Bassini is a Stanmore-based English businessman, and former chairman of Watford Football Club who earned notoriety for his red builders helmet.[1]

Bassini took over Watford Football Club in a £440,000 takeover on 31 May 2011 when the club's previous parent company Watford Leisure PLC was de-listed from the London Stock Exchange and became Watford Leisure Limited.

Prior to taking over at Watford Bassini had been made bankrupt in 2007 following the failure of his business The Fox at Ibstone near High Wycombe, Buckinghamshire, which he blamed on his father.[2] Bassini was bankrupt for about a year and it was during this time that he changed his name to Bassini to have a "fresh start".[2]

Whilst chairman of Watford, Bassini had been due to meet with fans at the annual Fans Forum on 8 November 2011 but cancelled at the last minute citing ill health.[3] He then cancelled a subsequent local radio phone-in on 22 November 2011, again at the last minute and again due to 'ill health'.[4]

Bassini's tenure at Watford will forever be remembered by Watford fans as a period of clown-like incompetence and financial impropriety [5] culminating in the comical 'Safegate' scandal when just prior to the sale of the club in June 2012 Bassini called the police after an employee refused to hand him the keys to the club safe.[6] He'll also be remembered for always wearing a ridiculous red builders helmet whenever he gave an interview to the local paper.[7][8]

In June 2012, 13 months after he bought the club, Bassini sold Watford Football Club to Gino Pozzo, son of Giampaolo Pozzo and owner of Udinese and Granada.[9]

In November 2012 it was announced the $1.5 million Bassini owed to Watford Football Club for 'cash advances' was unlikely to be repaid.[10]

In March 2013 an independent disciplinary commission found Bassini guilty of misconduct and dishonesty over financial dealings on behalf of Watford and banned him from being involved in a position of authority with any Football League club for three years. The commission found he had been "dishonest in his dealings with the league and with his fellow directors" and "practised secrecy and deception" when he told neither the league nor the other members of the Watford board about his secret forward financing arrangements.[11]

Following Watford's defeat to Crystal Palace in the 2013 Championship play-off final, Bassini sent a series of gloating texts to local newspaper Watford Observer, reveling in his joy at their loss.[12] He has been described as an 'ugly, arrogant, and pathetic individual' by all that have come into contact with him.[13] After the paper published details of his texts, Bassini made a number of legal threats via his Twitter account,[14] none of which ever materialised.

In July 2013 Bassini added to his list of business failures when the High Court ordered his company Watford Leisure Limited be placed in liquidation.[15]

In March 2014, Bassini lost a High Court battle against the Russo brothers.[16] The former Watford FC directors claimed that they were owed more than £3.5 million by Bassini. He was ordered to pay the sums of £3.5 million and £135,000 (plus an additional £568,000 in interest and £150k in costs); a total of £4,353,000. He has been told that he cannot appeal.

During the trial, in which he was described as 'evasive' and a maker of 'empty threats', the court heard Bassini had made numerous accusations of conspiracies against him without providing any evidence. Among these were that the Russos still secretly owned half Watford FC with the Pozzo family and were orchestrating a campaign against him. Bassini, who had been in court for the whole trial, left before the end after complaining of 'feeling dizzy' following 'a slip' on the High Court steps.[17]

In June 2014 Bassini was made bankrupt for the second time. The bankruptcy order was made after Bassini failed to pay the sum of £37,500. During the hearing Bassini claimed not to own any property despite receiving over £1.5 million in cash advances from Watford during his tenure.[18]

References

  1. ↑ "What is your favourite picture of ex-Watford owner Laurence Bassini?". Watford Observer.
  2. 1 2 "Watford's potential investor changed his name from Laurence Bazini to Bassini due to bankruptcy". Watford Observer.
  3. ↑ "Watford chairman Graham Taylor extremely disappointed owner failed to attend fans forum". Watford Observer.
  4. ↑ "Watford owner Laurence Bassini does not plan to hold Q&A with fans until New Year". Watford Observer.
  5. ↑ "Sting in the tail: Laurence Bassini legacy lingers on as money lenders, LNOC, sue Watford FC in High Court". Watford Observer. Retrieved 22 April 2016.
  6. ↑ "Pressure mounts on Watford FC owner Laurence Bassini". Watford Observer. Retrieved 22 April 2016.
  7. ↑ "What is your favourite picture of ex-Watford owner Laurence Bassini?". Watford Observer. Retrieved 22 April 2016.
  8. ↑ "Watford mark three-year anniversary of Laurence Bassini taking charge of the club". Watford Observer. Retrieved 22 April 2016.
  9. ↑ "Laurence Bassini". Retrieved 2012-06-29.
  10. ↑ "Company of former Watford owner Laurence Bassini owes Hornets' parent company £1.5m but club accept 'possibility' of non payment". Watford Observer. Retrieved 22 April 2016.
  11. ↑ David Conn. "Watford's former owner banned from football for three years". the Guardian. Retrieved 22 April 2016.
  12. ↑ "Former owner Laurence Bassini sends gloating text messages following Watford's defeat to Crystal Palace". Watford Observer. Retrieved 22 April 2016.
  13. ↑ "Watford's former owner Laurence Bassini gloats over club's Championship play-off defeat to Crystal Palace". Telegraph.co.uk. 28 May 2013. Retrieved 22 April 2016.
  14. ↑ "Laurence bassini". twitter.com. Retrieved 22 April 2016.
  15. ↑ "Former Watford FC parent company, Watford Leisure Limited, wound up". Watford Observer. Retrieved 22 April 2016.
  16. ↑ "Ex-Watford FC owner Laurence Bassini loses High Court battle with the Russo brothers". Watford Observer. Retrieved 22 April 2016.
  17. ↑ "Laurence Bassini 'evasive' and made 'empty threats', court told". Watford Observer. Retrieved 22 April 2016.
  18. ↑ "Laurence Bassini, former Watford FC owner, declared bankrupt again". Watford Observer. Retrieved 22 April 2016.
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