Saturday 23 May 2020

Disregard Bassini rumours

I would disregard rumours on Twitter that ESI are on the verge of selling to controversial former Watford owner Laurence Bassini.

As Richard Cawley tweeted yesterday, 'Bassini claimed to have an agreement to buy the club, but there were reasons he reckoned he would not proceed.'

One of those could be that he would have difficulty passing the EFL's fit and proper persons test.

Bassini has form as a football club owner, having been in charge of Watford from April 2011 to June 2012, and his record does not need forensic investigation to assess,  Having previously been bankrupt, Bassini, who stated his business then as property development, borrowed a total of £4.6m from two brothers, Giacomo and Vincent Russo, to help him finance the Hornets.

The accounts for his year in charge, 2011-12, stated that Watford had made a £7m operating loss.In March 2013 a Football League independent disciplinary commission of three QCs found Bassini guilty of dishonesty and deception and banned him for three years from being involved in a position of authority at any Football League club. It followed an inquiry into loans he took out of £2.6m. 

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