Oh do I love that!!! Those Chelski supporting lettuce munchers 4 mill out of pocket now how can that be if Baz wasn't fronting for them? Must remember not to buy salad....
No - they wanted out and sold their shares - the 29.6% stake they had retained - trouble is he did not have the money to buy them so they were part of the "arrangement" but it looks like they have now broken cover and are going for him - could work in our favour by showing the FL how shabby Baz is
Their shares weren't worth 4 million more like 150k and the article is about repayment of a loan. Remember the shares were purchased at derisory price. It really does look as if the Russos had some fingers in this but how who knows, a loan isn't a controlling interest, would be interesting to know the actual relationships but i doubt we will. The stable Watford supporting element in all ofthis has been Franzen and I dread to think where we'd be if he hadnt been there, the Lord wanting out at almost all cost, Simpson the inept, salad brothers the chelski boys with the agenda to kill the club and build a hospital (in my opinion) and bastardini the incompetent chancer who should be doing a Luca Brazi......
I think the Russos hated Baz and got clear when the club was sold to him not them - the chances that they put in any money after that in my opinion is nil so somewhere along the line they are asking for money invested before that - maybe they are valuing the shares at their paid price and not the derisory Baz price. I did and still do like the Russos - and think they would have been much better for the club than Baz - it was they who insisted on cutting our cloth to fit our income without which we would have gone bankrupt a long while earlier. They had their noses put out of joint and walked away when the previous regime stitched them up in the Board Room. Yes I know they threatened to put the club into administration but we were heading that way so it would have been inevitable but for the sale. I personally think they would not have done it but were playing poker - they lost
Quote "The Russo brothers' company, Valley Grown Salads, applied for the interim court order as they are claiming Stanmore businessman Bassini has not repaid loans worth more than £4m. " that's nothing to do with shares and no court would freeze assets on basis of a perceived value never agreed in any transaction.
i wonder if we'll ever find out the truth. A few people had said to me that they were behind Bassini but my 'man in the know' always insisted he was working alone...not so sure he's right about that now..it's possible he didn't know about the link but he certainly knew about the suspicions...
From the Article: The Russos returned after former chairman Graham Simpson and ex-chief executive Mark Ashton resigned in December 2008 and subsequently became chairman and vice-chairman. The pair then resigned in December 2009 at the parent companyâs annual meeting after finding out they were set to be voted off by major shareholder, Lord Michael Ashcroft, and Simpson. Valley Grown Salads demanded immediate repayment of their £4.88m loan, which led to a fall out with club legend Graham Taylor and the risk of administration. Did not read it properly before but in the story it confirms the loan predates Bassini
Leonardo-- no , that is not the loan at issue with Bas. The loan from the Russo's mentioned here was paid off when the clubs major debts were rolled over into the bonds taken up by Ashcroft and co. The Russo's must have lent Bas money after that--probably to finance the takeover . It would explain how Bas was able to take over the club 12 months after being on the dole. Obviously the Russo's would have some expectations in making such a move--perhaps they plotted a return to the Board or even to ownership-- with the new owner in their pocket, that would be just a matter of time. Perfect revenge on Ashcroft and GT. Why would they choose such a dubious character as their Trojan Horse? Well, no one else was available and they must have been confident they could control him. After all, they are experienced business men, and Bas gives the appearance of being a comedian. But he seems to have slipped out of their control. Like every other partner he has worked with, he has fooled or them or led them into disaster. As GT hinted, Bas needs watching like a hawk in his every transaction, and the Russo's did not watch him closely enough. Will they get their money back? Let us hope it is a debt owed by Bas and not by the club, or we may find the Russo's threatening us with administration once more.....
What is it about football that seems to turn normally sane and savvy business men into drooling idiots? Say what you like about the Lettuce Boys, but they have been very successful and have become very wealthy from their business - but to bankroll a complete knob like Baz in this way? They must have been a few leaves short of a Caesar Salad! All I can assume is that he had the ground as collateral for the loan as that would be the only asset of the required value, but when Baz sold out to the Pozzo's he trousered the cash and gave 2 fingers to the Lettuce Boys, I bet he winds up the holding company and goes belly up again. I wonder how long it will be before he is feeding the fishes or supporting a new flyover?
I think you are just speculating on this. I think it IS the loan that the Wobby is referring to - the loan became a bond that is still owed to them. There is no evidence anywhere to suggest the Russos lent Baz anything at any time.
Like Roger says, the loan to the club by the salads was payed off by Ashcrofts boys before all this. If whats written is correct then its the Russos who leant the ex bankrupt the funds through the solictors for the takeover and the amount is about right corresponding to Bassinis cash requirement for what he did.
Did not realize the Russos got their money back ahead of the bond holders - clever stunt by them to manage that - but it has obviously backfired if indeed they were the money behind Bassini. It still does not make any sense to me though - if they really fronted the money to Baz and then let him blow it - and they never pulled any of the strings - strange situation - Just doe snot smell right to me _ I will await developments and clarification if ever there will be any
All I can say is thank god for the Pozzos for surely they cant be any worse than any of our former owners since SEJ.
Gotta agree, I think they're the first ones for a while who want to make a football business work at WFC, I strongly believe that the Russos had a property agenda, Ashcroft had a development agenda and Bazza had a clowns agenda. Obviously Bassini wasnt fronting for the Russos per se but they must have loaned him the 4 million working capital and it seems strange they would have done this without some backing security and there was none available within the WFC business as this is all tied to the bondholders and bank. Forza Pozzo and may Bazzza find himself at the bottom of a Pozo pronto....
looking fwd to the pre season pozzo cup little tourney between watford granada and udinese Mr duxbury make it happen and I will go
