Watford owner Laurence Bassini has hit back at suggestions he is only at the club to “asset strip” and revealed he has already turned down two offers to sell the club.

Bassini spoke at length to the Watford Observer this week about his plans for the Hornets moving forward and stressed he is not at the club to make ‘a quick buck’.

The Stanmore businessman exclusively revealed he could have already walked away with a profit in excess of £10m – twice.

“People think I am here to asset strip, all the money we have at this club stays in this club, it is for this club and to build the club – infrastructure,” Bassini said.

“I don’t take a salary for working here, I have a team of people who I pay personally so they don’t take a penny out of this club, not even for expenses. I just wanted to let people know that.”

He continued: “I have had two people who have offered me much more than I paid to buy the club [£440,000]. One wanted to take the bond over and give me £10m and another offered me £15m, so I am not looking to come in and make a quick buck.

“I could have walked away with a £10m or £15m profit but that is not what I wanted to do. I want to build this club.”

Bassini had previously been reluctant to discuss his plans for Watford but said he “doesn’t mind talking now because things are starting to be done.”

Very little is known about Bassini’s business background which led to concern from many supporters, especially when it became clear he was made bankrupt in 2007.

When asked whether the money being put into the club was his own cash or through loans, Bassini replied: “I own the shares so whatever money I put in is my money.”

He continued: “I am not looking to take any money out of the club. Don’t get me wrong, if we get into the Premier League and there was more money available and I would then be able to take a salary then I would look at that.

“But I didn’t come here to take money out of the club – it needs money put into the club, not taken out of it.”

There have previously been rumours that Bassini was merely a front man for former chairman Jimmy Russo or friend Sir Philip Green but Bassini insists “nobody else is putting money into the club, only me.”

Bassini claimed he has invested more than £10m into Watford already (see page 62) in paying bills and for development projects at Vicarage Road.

When asked if this summer’s player sales and other transfer money received meant the club now had the funds to pay their bills during this season, Bassini replied: “Yes. We are reinvesting in the club, whether it is players or the infrastructure of the club.

“I may need to put more money in later because we will probably go over budget with what I am building here as we are doing much more to the ground than originally planned.”

Bassini describes himself as an equity investor and has previously stated he has invested in around 15 private companies.

But he admits he still has a lot to learn about football as it is “a new industry to me” but believes the club are going in the right direction with the guidance of the board.

Bassini is running the club as an ‘owner-led business’ but insists it is important Watford still keep their structure.

He said: “We only owe £8m now, we don’t owe any other money. So if we stay sensible then we will be ok because other clubs owe around £50m or £60m because they are trying to get into the Premier League.

“That is not the way forward and I think football is out of control. Why put the club in a dangerous position, you don’t need to.”

Laurence Bassini covered a range of subjects when he spoke to the Watford Observer this week. Check our website regularly today to see what else the club's new owner had to say.