Laurence Bassini is a British businessman. Between May 2011 through June 2012, he served as the club’s chairman. Laurence Bassini was reportedly interested in buying Birmingham City at £27 million in November 2021.
In June 2022, the press claimed that he had exchanged contracts for a 30 percent ownership in Birmingham City in a staged deal.
Career in business
When Watford Football Club’s previous parent company Watford Leisure PLC was de-listed from the London Stock Exchange and renamed Watford Leisure Limited, Laurence Bassini purchased the club for £440,000 on May 31, 2011.
- The Fox in Ibstone near High Wycombe, Buckinghamshire, which Bassini owned before taking over at Watford, failed in 2007 and left him insolvent. To give himself a “new start,” Bassini changed his name when he was bankrupt for approximately a year.
- As chairman of Watford, he was scheduled to speak with fans at the annual Fans Forum on November 8, 2011, but canceled at the last minute owing to illness. This was followed by another last-minute cancellation, this time for “poor health,” on local radio on November 22, 2011.
- At Watford, Laurence Bassini was involved in a scandal known as “Safegate” when only months before the club was sold, he allegedly threatened an employee with the club safe’s keys and contacted the police when they wouldn’t give them to him. For his media appearances, he donned a red builder’s helmet.
- When Giampaolo Pozzo’s son, Gino Pozzo, bought Watford Football Club from Bassini in June 2012, it was only 13 months after Bassini purchased the club. As recently as November 2012, Watford Football Club was informed that Bassini owed the club £1.5 million in ‘cash advances’.
- For his role in Watford’s financial dealings, Bassini was found guilty of misconduct and dishonesty in March 2013 by an independent disciplinary committee and banned for three years from any Football League team. As determined by the commission, he acted dishonestly in his contacts with the league and his other directors and “practiced concealment and deception” by keeping his forward finance arrangements hidden from the league and the other Watford board members.
- He sent a series of gloating text messages following Watford’s defeat in the 2013 Football League Championship play-off final to the local newspaper Watford Observer, expressing his delight at their loss. Watford Leisure Limited was put into liquidation by the High Court in July 2013.
- Bassini lost a High Court battle against the Russo brothers in March of this year. Watford’s former board claimed that Bassini owed them almost £3.5 million. he was sentenced to pay a total of £4,353,000, which includes £3.5 million in damages and £135,000 in interest. Exaggerated threats and “evasive” behavior were used to describe him during the trial.
- While Bassini had made multiple charges of conspiracy against him, he had not provided any proof to back them up, the court was told. Watford F.C. was still covertly owned by the Pozzo family and an anti-Russo campaign was being orchestrated, among other things. In spite of being there throughout the trial, Bassini was forced to leave early after complaining of “feeling dizzy” as a result of “a slip” on the High Court steps.
- Laurence Bassini was declared bankrupt for the second time in June of 2014. Upon Bassini’s failure to pay £37,500, a bankruptcy order was issued. Even though he received over £1.5 million in cash advances from Watford during the course of his employment, Bassini claimed not to own any property during the trial.
Laurence Bassini Wife
Although Laurence Bassini, who is roughly 52 years old, is supposedly married, there has been no evidence of the same.
To date, he has not spoken publicly about the nuances of his personal life, as he is preoccupied with establishing his career and pursuing new projects.
Associating himself with it could help him explain his intimate understanding of the interplay between time and opportunity.
Laurence Bassini’s “Net Worth”
By all accounts, Laurence Bassini, a self-described financial expert, has built a sizable fortune despite being declared bankrupt twice.
Watford Football Club was purchased by Bassini for £440,000 on May 31, 2011.
In November 2012, it was stated that the $1.5 million Bassini owes Watford Football Club for “loans” would likely not be repaid.
For more than 3.5 million pounds, the previous Watford FC board of directors guaranteed Bassini’s debts.
For a total of £4,353,000, he was required to pay 3.5 million pounds and 135,000 pounds in interest and expenses (on top of 568,000 pounds in principal).
The company was declared bankrupt a second time in June 2014 after failing to pay a £37,500 debt.
Watford loaned Bassini about £1.5 million when he was there, and he claimed not to own any real estate throughout the consultation.
Additionally, in November of 2022, he was expected to be interested in purchasing Birmingham City for £27 million.
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