Date: 13th September 2012 at 6:35pm
Written by:

Former Watford owner Laurence Bassini is no directly longer involved with the Red & Yellow Lion, it has today been revealed.

However, the Stanmore-based businessman has agreed to lease the pub to the men who helped him restore the pub to a usable condition.

There had been suggestions that Bassini would retain control of the pub after selling the club to the Pozzo family and he admitted at that time that the option was on the table.

But, several months after ending his involvement with the club it has been announced by The Watford Observer that Bassini has agreed a 25-year lease with Dave Hashani, who helped restore the pub, and Chris Price who managed it when the club still owned it.

Though further details are sketchy, Hashani & Price do have the option to buy the freehold to the pub within 12 months.

Speaking to The Watford Observer, Price said his main intention was to return the pub to Watford supporters:

“This is a fresh start with a new company and we want to state for the record that Laurence Bassini is no longer involved with the Yellow and Red Lion and will not be receiving any profits from the pub.

“When the takeover happened I left and the pub was left in limbo. We have been trying to get the lease and along with Dave, we have managed to do that.”