Date: 22nd June 2012 at 11:09am
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Hornet’s owner Laurence Bassini has spoken out to deny that he has taken a penny from the club for his own pocket.

The Stanmore businessman has been quick to deny suggestions that he has lined his own pockets during his 14 month tenure as owner at Vicarage Road.

Bassini even went as far to open a separate account into which all transfer fees received were safely ring-fenced – where might that kind of financial prudence come in handy in the past?!

Further to that, Bassini maintains that he has pumped betwee £8m and £10m of his own personal wealth into the football club.

Speaking to The Watford Observer, Bassini said:

“The money from that account (transfer account) stays with the club. It always has. I have never taken any money out of the club. The only money I will have received is from the takeover money.”

Bassini also spoke of the possibility of taking the pub when he departs Vicarage Road after he put £500,000 of his own money into it’s redevelopment:

“The pub is still in the club`s ownership at this moment in time. The answer is I do not know. We will see.

“There was a valuation of the pub made and I paid that money into the club`s account and I haven`t had it back so I have been offered the pub as part of the deal.”