The reported sale of Udinese is progressing, with Gino Pozzo deciding to end his family’s 39-year association with the Italian club in order to focus more closely on Watford.
Stories broke over the weekend that the Serie A side were about to be taken over by a group of American entrepreneurs.
Although the exact price involved – quoted at between £150m and £180m – is unclear, the sale is going ahead.
However, contrary to some reports, the Watford Observer understands from trusted contacts in Europe that the Pozzo family will not retain any part of Italian club.
It has been suggested they will hold onto 20% for the next three years and, during that time, continue to have input into Udinese’s transfer business.
That, though, is not the case: indeed, Pozzo has decided to sell now to further confirm his focus is purely on Watford.
It is understood he sees considerably greater potential for growth and success at Watford, and taking them back to the Premier League would be far more lucrative than trying to steer Udinese back into the top half of Serie A.
However, before Hornets fans see the sale of Udinese, a nine-figure sum and hear the ker-ching of a cash register, it’s worth bearing in mind that money is highly unlikely to be ploughed – in large chunks at least – into the transfer market.
The understanding is that Pozzo’s chief commitment to the club in terms of playing staff is to financially support retaining what Watford already have.
It was something he stressed in his statement, and so the budget for next season is far less likely to require income from player sales to balance things up.
The owner wants to keep the likes of Imran Louza, Giorgi Chakvetadze and Kwadwo Baah, and so whereas previous budgets may have needed allowance for income from the sale of one or more of the ‘crown jewels’, that is now far less of a requirement.
Of course, if a club comes in with an offer for any player so high the club perceive it to be good business then they will consider it.
But the proceeds from the sale of Udinese and the focus on Watford means the Hornets can now sell out of choice, rather than out of necessity.
The sale of Udinese is also understood to be a piece of standalone business, and not part of a wider exit strategy where the Pozzos would be looking to sell Watford as well.
The owner is, it seems, fully committed to the Hornets – and at a granular level that means he will not need to spend time flying back and forth between Italy and England.
Having appointed a new head coach in the shape of Paulo Pezzolano and spoken of the play-offs and promotion, the owner is now close to taking the next step in focussing purely on Watford – selling the club that his family have owned since 1986.
Should he help steer the Hornets to the Premier League for a third time since 2012, then its value may rise to a point where he decides selling that is also attractive.
For now, however, he is backing up his words with actions – and as one Italian journalist said: “Over here, there is great shock.”
