Date: 22nd June 2012 at 4:50pm
Written by:

Watford owner Laurence Bassini has this afternoon told The Watford Observer that the Pozzo family takeover is ‘definitely off’.

The Hornet’s owner contacted The Watford Observer this afternoon to say that the Pozzo family did not have the required funding and that as a result, the deal was off.

Bassini had been asking for £12m for the club in order to re-coup the money he ploughed into the Hornets from his own back pocket but according to the Stanmore businessman, the Pozzo’s partners haven’t provided the necessary financial backing.

The club’s owner said of the deal:

“They don`t have the money so I`m not doing the deal.

“They didn`t provide the proof of funds and it is not transparent enough so that is that.’

Bassini continued:

“They have so many partners but they don`t have the money.

“The deal is definitely off. They do not have the money. What can I do?”