Laurence Bassini

Laurence Bassini (born Laurence Bazini[1]) is a Stanmore-based English businessman. He was the chairman of Watford Football Club from May 2011 to June 2012.[2]

Business career

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.[1] 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".[1]

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 was marked by allegations of financial impropriety[5] culminating in the '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 wore a red builder's helmet giving interviews to the local paper.[2]

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.[7]

In November 2012 it was announced the £1.5 million Bassini owed to Watford Football Club for 'cash advances' was unlikely to be repaid.[8]

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.[9]

Following Watford's defeat to Crystal Palace in the 2013 Football League Championship play-off Final, Bassini sent a series of gloating texts to local newspaper Watford Observer, reveling in his joy at their loss.[10][11]

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.[12]

In March 2014, Bassini lost a High Court battle against the Russo brothers.[13] The former Watford F.C. 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 F.C. 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.[14]

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.[15]

On 17 April 2019, it was announced that Bassini had agreed to take over financially troubled EFL Championship club Bolton Wanderers.[16] On 7 May, it was reported Bassini's takeover was on the "brink of collapse" after a repeated failure to provide proof of funds to the English Football League.[17] On 8 August 2019, Bassini won a court order blocking the sale of Bolton Wanderers to Football Ventures.[18] His efforts, however, were eventually unsuccessful, with Football Ventures securing the completion of the sale on 28 August 2019.[19] In March 2020, Bassini was reported to be interested in buying EFL League Two club Oldham Athletic,[20] but this was quickly labelled as "false".[21] In May 2020 it was revealed Bassini had a provisional agreement to buy Charlton Athletic for £1.2 million[22] however he pulled out of the deal on May 27 due to problems stemming from Roland Duchatelet owning The Valley and Charlton's Training Ground. He instead decided to look into taking legal action against Bolton in an attempt to unravel their takeover and gain control of the club as it was revealed he had in fact officially owned Inner Circle Investments, the company that owned Bolton Wanderers at the time, after Ken Anderson had agreed to sell the club to him.[23]

References
  1. Smith, Frank (18 February 2011). "Watford's potential investor changed his name from Laurence Bazini to Bassini due to bankruptcy". Watford Observer. Newsquest. Archived from the original on 17 April 2019. Retrieved 17 April 2019.
  2. "What is your favourite picture of ex-Watford owner Laurence Bassini?". Watford Observer. Newsquest. 26 November 2013. Archived from the original on 17 April 2019. Retrieved 18 April 2019.
  3. Smith, Frank (8 November 2011). "Watford chairman Graham Taylor extremely disappointed owner failed to attend fans forum". Watford Observer. Newsquest. Archived from the original on 18 April 2019. Retrieved 18 April 2019.
  4. "Watford owner Laurence Bassini does not plan to hold Q&A with fans until New Year". Watford Observer. Newsquest. 22 November 2011. Archived from the original on 18 April 2019. Retrieved 18 April 2019.
  5. Wright, Mike (11 October 2013). "Sting in the tail: Laurence Bassini legacy lingers on as money lenders, LNOC, sue Watford FC in High Court". Watford Observer. Newsquest. Archived from the original on 17 April 2019. Retrieved 18 April 2019.
  6. Smith, Frank (17 June 2012). "Pressure mounts on Watford FC owner Laurence Bassini as Pozzo takeover moves a step closer". Watford Observer. Newsquest. Archived from the original on 17 April 2019. Retrieved 18 April 2019.
  7. "Udinese's Pozzo family complete Watford takeover". BBC Sport. 29 June 2012. Archived from the original on 27 April 2019. Retrieved 18 April 2019.
  8. Smith, Frank (27 November 2012). "Company of former Watford owner Laurence Bassini owes Hornets' parent company £1.5m but club accept 'possibility' of non-payment". Watford Observer. Newsquest. Archived from the original on 17 April 2019. Retrieved 18 April 2019.
  9. Conn, David (18 March 2013). "Watford's former owner banned from football for three years". The Guardian. Archived from the original on 30 March 2019. Retrieved 19 April 2019.
  10. Smith, Frank (27 May 2013). "Former owner Laurence Bassini sends gloating text messages following Watford's defeat to Crystal Palace". Watford Observer. Newsquest. Archived from the original on 19 April 2019. Retrieved 19 April 2019.
  11. "Watford's former owner Laurence Bassini gloats over club's Championship play-off defeat to Crystal Palace". The Daily Telegraph. 28 May 2013. Archived from the original on 17 April 2019. Retrieved 19 April 2019.
  12. Wright, Mike (8 July 2013). "Former Watford FC parent company, Watford Leisure Limited, wound up". Watford Observer. Newsquest. Archived from the original on 19 April 2019. Retrieved 19 April 2019.
  13. Wright, Mike (25 March 2014). "Ex-Watford FC owner Laurence Bassini loses High Court battle with the Russo brothers". Watford Observer. Newsquest. Archived from the original on 19 April 2019. Retrieved 19 April 2019.
  14. Wright, Mike (10 March 2014). "Laurence Bassini 'evasive' and made 'empty threats', court told". Watford Observer. Newsquest. Archived from the original on 19 April 2019. Retrieved 19 April 2019.
  15. Wright, Mike (4 June 2014). "Laurence Bassini, former Watford FC owner, declared bankrupt again". Watford Observer. Newsquest. Archived from the original on 19 April 2019. Retrieved 19 April 2019.
  16. "Laurence Bassini: Former Watford owner agrees deal to buy Bolton Wanderers". BBC Sport. 17 April 2019. Archived from the original on 17 April 2019. Retrieved 17 April 2019.
  17. Stone, Simon (7 May 2019). "Bolton Wanderers: Laurence Bassini takeover on brink of collapse". BBC Sport. Archived from the original on 8 May 2019. Retrieved 8 May 2019.
  18. "Bolton Wanderers: Takeover suspended by Laurence Bassini court order". BBC Sport. BBC. 8 August 2019. Retrieved 19 August 2019.
  19. "Football Ventures completes takeover to save League One club". BBC Sport. BBC. 28 August 2019. Retrieved 28 August 2019.
  20. "Oldham Athletic: Laurence Bassini confirms interest in buying League Two club". BBC Sport. BBC. 4 March 2020. Retrieved 4 March 2020.
  21. "Oldham Athletic: League Two club's administration case adjourned". BBC Sport. BBC. 6 March 2020. Retrieved 6 March 2020.
  22. https://www.skysports.com/football/news/11684/11993439/laurence-bassini-confirms-charlton-takeover-interest-but-bolton-also-an-option
  23. https://www.skysports.com/football/news/11684/11995567/laurence-bassini-pulls-out-of-charlton-athletic-takeover
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