Watford’s new owner Laurence Bassini says he “sympathises” with shareholders of the club’s parent company who have lost substantial sums as part of his takeover.

Bassini’s Watford FC Limited has almost complete control of the club after paying 1p per share.

Watford Leisure Plc’s major shareholders formally accepted the offer of 1p per share in March despite the shares being worth 4p the night before the announcement, which amounts to a 75 per cent drop. And it was 7p a share when interest in the club was first revealed in December, which is an 85.7 per cent drop.

Watford FC Limited currently control almost 95 per cent of the club’s parent company and has recently started the process of ‘compulsorily acquiring’ the remaining shares.

A number of shareholders, who are often fans, have been angered by how their shares have become almost worthless as part of the takeover.

"I can understand where they're coming from," Bassini told the club’s website.

"Whether you put in £500, £1,000 or quite a bit more back then, it must be very disappointing to see the way the value of those shares has disintegrated.

"I do offer my sympathies to those who've effectively lost substantial sums of money simply through pledging their support to Watford.

"A lot has happened in those 10 years, but that's not something anyone can affect. I'm firmly fixed on the long-term future of this club. I'm here to invest in what the club will be, not to dwell on what it has been under entirely different ownership."

Watford’s article also stated the club will save around £200,000 a year by delisting from the Stock Exchange, which will happen on May 31.