Russos and Bassini in High Court battle over brothers' cash backing for takeover of Watford FC (From Watford Observer)
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Russos and Bassini in High Court battle over brothers' cash backing for takeover of Watford FC
Updated 12:04am Friday 7th March 2014 in News
Details of behind the scenes machinations for control of Watford FC have emerged as former directors, Jimmy and Vince Russo, have locked horns with former owner, Laurence Bassini, in the High Court this week.
The brothers have taken legal action to recover more than £3.6 million they say they loaned the Stanmore businessman in secret deals before and after he bought the Hornets.
Proceedings in the High Court have shone light into the murky world of football politics and frank views have been expressed by both parties in the courtroom.
The Russo brothers have argued the millions they transferred to Laurence Bassini’s lawyer weeks before he bought Watford FC constituted an interest-free loan meant as a “working capital facility” for the club.
Meanwhile, Mr Bassini argued the loan documents relating to the money were “a sham", that the Russos saw Watford as a “money machine” and that they were keen to find a way back into the club after falling out with its board.
Chief reporter Mike Wright has followed events in the High Court since Monday and his special two-page report appears in this week's Watford Observer.