Yes - it does sound like a movie - but probably the horror variety. Let's face it we are the victims in all this - Bassini should never have been allowed by the authorities to take control of the club. Also Simpson et al are in my book tainted even more than they were previously as it seems they were so desperate to get out that they sold to this bankrupt. The Russos who I never subscribed to the view of them as "bad people" - and I notice that neither did Oliver Phillips whose views I often share - now appear to have been so keen to take over that they sided with Baz on the quiet and now we - the victim are likely to be punished as it is the Cuub more often than not rather than the owner who gets punished when financial rules are broken- although this time it looks like Baz will also get banned for a period - lucky Portsmouth It set me to wondering. Would points off this year or next be better. If we got promoted then next would be better to me as we could "plan" for relegation and a bounce with very careful stewardship of Premiership monies ... and how many points could we recover from this year. 10 looks to be no problem - should not fear relegation and who knows could even make the play offs still 20 would rule out play offs but we would probably escape relegation. 30 would be very difficult to cope with and we would need this to be an excellent season not to drop with that as a punishment.
I Think common sense has to play a part. Maybe a fine and a ten point Suspended sentence. Dont forget the fl decreed baz a fit and proper person thus they are at fault too. Another point to consider is that we went straight to the authorities and owned up.we did not try to conceal any wrong doing.
I don't believe we will have a points deduction, as the goings on were not strictly football related and there was no direct football benefit. This was pure financial impropriety by our previous owner - we will get stung by a big fine instead.
If the article in the Sun is to be believed, it was of footballing benefit though, because if we had reported the transactions properly, then we would have been under a transfer embargo and would not have signed the likes of Nosworthy and Almunia. I can understand how other clubs who had to resort to such measures when they were in financial trouble and had to go through transfer embargos themselves would be angered if we didn't get a points deduction, even if it isn't the fault of the current owners.
Correct me if I am wrong, but we were rumoured to be under a transfer embargo earlier this season - an embargo that was subsequently lifted?
I think that what we have seen is people trying to make money out of something that could only be a drain on their bank accounts. Simpson did not have the money to support the club and raised it by means of share issues that left supporters who were able to subscribe to it out of pocket when Baz took over. Although not everyone sees it as I do, the biggest mistake that Simpson made was to employ Ashton, who realised that the club needed money and was prepared to even sell off pieces of the ground to raise it. The Russos were slowly increasing their influence at the club by making loans, until something happened, we don't know what, and Simpson fired them from the board. Once again we don't know what happened for Simpson who had the backing of the shareholders to suddenly resign allowing the Russos to take over. Thank heavens that Lord Ashcroft, who was not interested in football, only investments, was still in the background to come to the rescue when the Russos threw their hissy fit and wanted their money back. Julian Winter and the board were charged with finding a new owner within 12 months and it was at that point that Baz appeared. Was he to be the face of another Russo takeover bid, or did the brothers have their own agenda of supplying him with enough rope so as he could hang himself? I think it may have been the latter as no one would seriously have lent him millions with his track record. The FL have stated that they do not have the resources to do a thorough check on people who want to own football clubs, but you do have to ask why they make out that they have a means of checking people out if they are not able to. There was sufficient concern expressed about the man in many quarters for them to have taken more interest in this particular case. Maybe they did for all we know, but Lord Ashcroft thought it prudent to keep all of his conditions firmly in place before agreeing to the takeover. Fortunately the Pozzos appeared over the horizon with a different business plan and the money to put it into action. It looks as if even they found skeletons in the cupboard, should that be safe, after they had taken over. Once again, this time for understandable reasons, no one wants to say too much about what is happening between the club and the FL. The article that appeared in the WO suggested that Baz was the only person who actually knew what was going on, and that is what I read into the piece in the Sun. The most serious misdemeanor seems to be that the club lied by saying that no transactions had taken place that should have been notified to the FL. Who told them this? Was it Baz, was it someone else within the club who was only saying what he/she was told to say, or was there a deliberate cover up by the club as a whole? The fact that Baz was the only director at the time and the unusual procedure of throwing the book at him, suggests that the early investigation believes he may well have been to blame personally. All of this suggests to me that the club will get a telling off and a light sentence, especially as the current owners seem to be doing their best to help the FL and sink Baz without trace. Should there be a points deduction I would be surprised if it seriously affected our standing in the league, but should there be a promotion this season take the points off next, and let us dip into the honey pot for at least a while.
Other factor that has to be considered is the various companies involved in this sorry mess. Baz had a company that was effectively a holding company that owned Watford FC and it was this holding company that sold the notes from Swansea and the FL, that is why the admin at Watford FC may have not been aware of this 3rd party involvement and the need to declare it and thus trigger the transfer embargo. So it would come down to whether Watford FC deliberataly ignored this regulation or was not able to comply as they were unaware of the arrangement underatken by the holding company that had Baz as the only director. That is why I still believe we will not face a points deduction - but it will be interesting to see the opinion of other clubs when the hearing starts.
What worries me is how do you make the distinction between Baz and Watford when he WAS Watford. At Rangers - albeit they are in Scotland under a different system - was it not the Owner who was at fault yet the club still faced punishment?
That's what I used to think WY, but if the sun is correct and we should have been placed under a transfer embargo when we signed Fitz, Noz and Manu, then they might decide that we gained from that on the pitch.
Hall and Almunia will be fine, it's Nosworthy I've been worried about for a couple of months now. This strikes me as being very similar to the Faurlin situation at QPR.
The more details come out, the more FL sanctions (fines, points deductions) look inevitable. The only positive---if Bas had remained owner, it would have meant administration/bankruptcy, points deductions, relegations, etc etc. Now we face only points deductions and a delayed promotion (assuming that the Pozzos' keep the faith). So we have some time to get used to the idea of points deductions, and can adjust our expectations for this season accordingly. Going into next season with a strong sense of injustice will be a great incentive for Zola and the squad. This is a real test for the Pozzo's and for Zola. If they come through it with motivation and commitment to Watford intact, we will be the stronger for it.
But wait... WHY are the only people talking about this us Wfd supporters? I see no head of steam building up over what would be a top news story ???
I have been wondering exactly that. Nothing in my paper so far- and David Conn in the Guardian specialises in precisely this sort of legal, administrative story. I'm just not qualified to add any comment, I don't understand the processes and usually it flows a long way over my head. All I know is that it all sickens me to my core and worries me immensely. I love this club beyond any rationality (we all do) and fear for it.
Most of this goes over my head to GG, but I don't feel worried about the club. The new owners according to The Sun have reached an understanding with the FL so hopefully this means that any punishments have already been agreed. If this is the case the owners are not too worried otherwise it may have been reported differently. But then again it is in The Sun so take it with a pinch of salt.
Frank Smith at the WO who first broke the story has been saying that it is very difficult to tie it all together as none of the parties involved are prepared to speak.
Thank you for those comforting words, Sandy. I would rarely if ever take anything from the Sun as gospel, but in this case I might, just for the reassurance.
This has gone on for too long, just put and end to it and give us a gentle slap on the wrist. DONE, then we can get on with our business in the league.
