Bassini looking to lease out pub (From Watford Observer)
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Former Watford owner Laurence Bassini given club-owned pub as part of takeover
2:00pm Friday 6th July 2012 in Watford FC News
By Frank Smith, Deputy Group Sports Editor
Bassini looking to lease out pub
Laurence Bassini received the Yellow and Red Lion Pub as part of the Pozzos takeover but claims he is in discussions with a Watford fan over a long lease.
Bassini's 15-month reign as Watford owner ended last Friday after the Pozzos completed their takeover following several weeks of intense negotiations.
There were fears the deal could fall through towards the end of last week as the relevant parties worked into the early hours of Wednesday and Thursday in a bid to secure an agreement.
But the takeover was concluded in the early hours of Friday morning and announced that afternoon.
Bassini had previously stated he wanted £12m for the club but then retracted the comments last week.
None of the parties involved will disclose details regarding the sale but we understand Bassini received a seven-figure sum and the Red and Yellow Lion in Vicarage Road as part of the agreement.
We understand the ownership of the pub remains in Watford Association Football Club Limited’s name at present but that it is a matter of time before Bassini becomes owner.
Generations of Watford fans, and more lately Saracens rugby supporters, used the pub as a place to socialise before and after games but it was closed in 2006 after the club bought the premises.
Watford’s previous regime of Mark Ashton and Graham Simpson initially planned to build flats and offices on the site but the idea was scrapped and it was derelict for a number of years.
But the Hornets renovated the pub earlier this year and reopened it in April on match-days. It then opened full time in June.
A spokesman for Laurence Bassini talked to the Watford Observer yesterday (Thursday) and stated that the club’s former owner was keen for the pub to remain open for Watford supporters.
Bassini is in discussions with an interested party and while his spokesman would not disclose who that person was, we understand it is Josh Price, who spent time at Watford as a youngster and has been the pub manager since it reopened.
A spokesman for Laurence Bassini said: “What we are hoping to do is lease the pub to somebody who will run it for the benefit of the supporters.
“We want to talk to people involved with the club and try to ensure it is run for the benefit of the Watford supporters and the club itself.
“We have interest from someone who is a Watford fan and we plan to lease the pub to him at a huge discount, so it continues to be a place for Watford supporters.
“The pub was given to Laurence as part of the takeover because I do not think the new owners were interested in running the pub.
“But it was rebuilt for the Watford supporters so we are discussing to a third party who are Watford fans so it can continue to be a fans pub.”
If an agreement is not made and Watford supporters decided to boycott the pub due to it no longer being in club hands, then Bassini would not be able to make it an “away pub” without changing the licensing agreement.
In the Yellow and Red Lion’s licence it states “during football days admission is restricted to home supporters”.
Comments(31)
hollywood101
says...
2:28pm Fri 6 Jul 12
rousman 2
says...
2:37pm Fri 6 Jul 12
thomas.howard
says...
2:37pm Fri 6 Jul 12
ChunkeyMonkey
says...
3:06pm Fri 6 Jul 12
It is all about risk and reward, clearly he has reaped a reward, for something that was not risk free - indeed could easily have destroyed his own investment at the death of his tenure of the club. Chancer or businessman? My view (for what it is worth, is neither; somewhere in between). What ever happened to his sidekick at the outset of his ownership? The medical man?
Colin West's mullet
says...
3:09pm Fri 6 Jul 12
ChunkeyMonkey wrote:he got locked in the safe.
Slightly off topic as it were, and a lot of ifs and maybe's but if Bassini paid £400k for the club and kept it going by way of receipts from player sales and ticket money etc, then sold it for a seven figure sum plus the pub, then he is a somewhat fortunate businessman probably making approx £1m along the way in 15 months.
It is all about risk and reward, clearly he has reaped a reward, for something that was not risk free - indeed could easily have destroyed his own investment at the death of his tenure of the club. Chancer or businessman? My view (for what it is worth, is neither; somewhere in between). What ever happened to his sidekick at the outset of his ownership? The medical man?
Hampshire hornet
says...
3:14pm Fri 6 Jul 12
lutondown
says...
3:17pm Fri 6 Jul 12
Hampshire hornet wrote:Lol
Did he get to keep 'his safe' as part of the deal?
Watford Willie
says...
3:28pm Fri 6 Jul 12
It's a strange feeling. I was happy to drink in the pub before it was owned by the club and a bit of a dive. Now, I don't really want to line Bassinis pockets though and have an aversion to go in there.
Can't we as supporters with the help of the supporters trust buy the freehold at a knockdown price so it will still be of use to home fans.
miked2006
says...
3:43pm Fri 6 Jul 12
SAHornet
says...
4:21pm Fri 6 Jul 12
Having said that, I think the pub is doomed to failure anyway. It's so out of the way except on match days.
Mr.Miggins
says...
4:51pm Fri 6 Jul 12
Ironic that people on here who criticise Bas for throwing his toys out the pram on a number of occasions are guilty of equal immaturity. He bought the club when no one would touch it with a barge pole, and has now (seemingly) got us into a position where we can finally see some light at the end of a long dark tunnel.
Like him or loathe him (I think I am inbetween those 2 statements) he has (f*** knows how) delivered
andyhooked
says...
5:12pm Fri 6 Jul 12
bonserout
says...
7:27pm Fri 6 Jul 12
nevertrustedbaz
says...
7:36pm Fri 6 Jul 12
I can honestly say that I have never believed a word that our previous owner, cannot even mention his name, has uttered although few can have heard him speak!
As I understand matters, he bought the club for £400,000 sold it for an unknown amount, understood to be over seven figures, but keeps the pub which must be worth over the £400.00p purchase price on it's own.
Thanks very much Baz for your tenure. It will be remembered for your lamentable lack of communication with the fans and for sacking a member of staff who had the temerity, thank God, to refuse to hand you the safe keys.
I will be disapointed if any Watford supporter ever enters the Red & Yellow Lion pub in the future.
Bye Baz and thanks for nothing.
I do hope you can sleep at nights.
Dr,Oftaw
says...
10:02pm Fri 6 Jul 12
andyhooked wrote:Dignity? Dignity? HAHAHAHAHAHAHAHAHAHA
Let the man go with a degree of dignity. We would have been in a worse place wthout hi despite his PR failings. If h should make a few bob out of the old Red Lion then I have no roblem with this. Great if someone close to th club does take oer, as sggested in reports.
HAHHAHAHAHAHAHAHAHAH
AHAHAHHAHAHAHAHAHAHA
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AHAHAHAHAHAHHAHAHAHA
HAHAHAHAHAHAHAHHAHAH
AHAHAHAHAHAHAHAHAHHA
HAHAHAHAHAHAHAHAHAHA
HHAHAHAHAHAHAHAHAHAH
AHAHHAHAHAHAHAHAHAHA
HAHAHAHHAHAHAHAHAHAH
AHAHAHAHAH
Bush Hornet
says...
2:22am Sat 7 Jul 12
andyhooked wrote:Your keyboard's missing a few buttons methinks.
Let the man go with a degree of dignity. We would have been in a worse place wthout hi despite his PR failings. If h should make a few bob out of the old Red Lion then I have no roblem with this. Great if someone close to th club does take oer, as sggested in reports.
D.unstable
says...
11:10am Sat 7 Jul 12
southernhornet
says...
11:18am Sat 7 Jul 12
The Rover
says...
12:27pm Sat 7 Jul 12
corbindallas
says...
1:53pm Sat 7 Jul 12
nevertrustedbaz wrote:I understand your stance but would like to update your info as it is a tad incorrect. It cost Bassini £440k to buy the club, £150k to deregister the club of the FTSE and a further £100k in legal fees etc, upfront of actual ownership.At the time the only other interest arty were a group of business men from Hayes who wante to sell the Vicarage Rd stadium and move it up the M1, but wanted to finance the deal through a loan with the selling of the stadium so it was a non starter. Therefore Basini was the only real interested party. The next year end accounts will be the most important for everyone to see what has come in and out of the club, although as this is under 3/4 companies it may be a bit disjointed for a full picture. All I would say is under Bassini's reign we saw things happening that should have happend a long time a go, pitch, players in, equipment, pub, etc. Now it is down to new people to show progress, but please don't blame Bassini for not moving the club forward as clearly he has and if he makes money out of it so be it that's busness after all. I will not boycott a pub because Bassini owns it I will support it for a pub especally there for home fans to enjoy, regardless of who owns it.
I have never posted before on this website as I have always felt that others can have their say. However, I am well over 80 and feel so strongly on this subject that I felt compelled to register for the first time.
I can honestly say that I have never believed a word that our previous owner, cannot even mention his name, has uttered although few can have heard him speak!
As I understand matters, he bought the club for £400,000 sold it for an unknown amount, understood to be over seven figures, but keeps the pub which must be worth over the £400.00p purchase price on it's own.
Thanks very much Baz for your tenure. It will be remembered for your lamentable lack of communication with the fans and for sacking a member of staff who had the temerity, thank God, to refuse to hand you the safe keys.
I will be disapointed if any Watford supporter ever enters the Red & Yellow Lion pub in the future.
Bye Baz and thanks for nothing.
I do hope you can sleep at nights.
nevertrustedbaz
says...
2:55pm Sat 7 Jul 12
Add to that the Ashley Young unexpected income money and that is the year adequately covered.
Has the pitch been paid for or just the deposit?
Then there's the Inland Revenue issue which will not go away.
No................I can sleep at night but as for Baz the guy only deserves contempt.
llloydwithathirdl
says...
9:51pm Sat 7 Jul 12
Paul Gadd
says...
12:01pm Sun 8 Jul 12
Bringe
says...
8:58pm Sun 8 Jul 12
There is simply no way he could've effected a buy-out without them nor find finance to settle the bonds on his own.
You heard it here first.
watfordman
says...
1:52am Mon 9 Jul 12
G_Whiz
says...
10:53am Mon 9 Jul 12
I know Josh is a Good Bloke. and Real fans know it's good to have our local back, regardless of who owns it!
The Rover
says...
12:15pm Mon 9 Jul 12
G_Whiz wrote:As I said: When I go into a pub for a beer I dont take ethics into consideration. I dont care who owns the pub. I go there because I want a beer! Much better that the Red Lion has been refurbished and is open for business, rather than being derelict, regardless of who owns it.
Jeeze - some fans just spew hatred on these threads - starting to sound like the fickle lot at West Ham!
I know Josh is a Good Bloke. and Real fans know it's good to have our local back, regardless of who owns it!
G_Whiz
says...
2:24pm Mon 9 Jul 12
The Rover wrote:Ahh! you're a lover, not a hater. like me!
G_Whiz wrote:As I said: When I go into a pub for a beer I dont take ethics into consideration. I dont care who owns the pub. I go there because I want a beer! Much better that the Red Lion has been refurbished and is open for business, rather than being derelict, regardless of who owns it.
Jeeze - some fans just spew hatred on these threads - starting to sound like the fickle lot at West Ham!
I know Josh is a Good Bloke. and Real fans know it's good to have our local back, regardless of who owns it!
There's not many a pub that isn't owned by big greedy breweries these days anyway!
I'll drink to Josh! and Watford's pub next door!
watfordman
says...
3:07pm Mon 9 Jul 12
watfordman
says...
3:43pm Mon 9 Jul 12
Colin West's mullet says...
2:15pm Fri 6 Jul 12
Baz, not a good idea telling the world it's yours.