is still lurking over us like a bad smell. Just seen this on Twitter: High Court judge rules #WatfordFC should repay £900,000 to LNOC after the Laurence Bassini affair Just as well we announced a profit the other day then - shame most of it will go towards paying this. Detail of ruling. http://www.bailii.org/ew/cases/EWHC/Comm/2013/3615.html
If he is one thing Laurence Bassini is a slipery snake. He appears to have avoided this debt and dropped the payment on the club.
Regardless of the ruling, there's a splendid comment at the end: "...This case has been about money rather than the real purpose of a club which is playing football. I will not leave a case about Watford Football Club without recording my gratitude to and admiration for one of its players, the late Mr Tommy Harmer. I still recall vividly an otherwise miserable Saturday afternoon in 1961 or 2 when, playing unaccountably in the Third Division, dancing and weaving his way repeatedly through the opposition like a butterfly with determination, he brought worthwhile delight and pleasure to thousands." I, too, remember Tommy Harmer, his undoubted skill thoroughly wasted during his time at the club and a couple of goals from free-kicks that I have described before on this board - especially one against Coventry City in 1961.
Being reported on the BBC.. http://www.bbc.co.uk/sport/0/football/25042944 No doubt that other snake from the Daily Heil will twist it into another anti-Watford tirade
Strange neither reported the fact we made a post tax profit - almost a if they only want to post negative news about clubs. I say that because no doubt had the accounts shown a massive loss it would have made the press...
I am no lawyer, but do wonder about some of the statements made in the judgement. I wonder why Bassini was not called by either side to give evidence? Maybe they didn't want the whole thing put on hold because he sent in a sick note.
Since when did the club appoint Bast-ardinin? He appointed himself - once again the legal system protects the 'good guy business type' so loved by the condems at the expense of decent ordinary people like the everyday Watford supporters.
Club to appeal the decision. Good. http://www.watfordobserver.co.uk/sport/10827144.Watford_to_appeal_LNOC_court_decision/ Certain parties in this case appeared to have given doubtful evidence as stated by Judge Mackie QC, yet he seemed to have given little weight to that fact. I believe that the appeal can only be that the judge interpreted the law wrongly, but we will see. I have also read that according to the accounts that I haven't yet seen, the club still own the Red Lion and have not handed it over. Not too sure what the hell is going on there. The man is a disaster zone, and if he doesn't get nailed by the club then I hope that the Russos get him and i don't like them.
How can Bassini get away with this? He borrowed money from LNOC against income due to the club, without telling fellow directors. He did not repay LNOC .... it was not explained in court what he did with the money he borrowed, and then he spent the Danny Graham revenue (the security for the loan) too. He was also taking money out of the club in "fees" and using club money to refurbish the Red Lion which he hoped to make his own. How can the judge not see that the football club was the victim here, not a party to an attempt to rip-off LNOC? It would be tempting to say "let us move on" but the amounts are not trivial, and it goes against the grain to see Bassini get away with it. Why was he not called as a witness at the hearing? He would not impress under cross-examination. The details of the most recent accounts in the WO show that the club is still dependent on the patience of major creditors. Fransen is leaving his loan in the club, Ashcroft does not want his bond repaid for at least 5 years (by which time we are supposed to be in the Premiership) and the Pozzos have lent the club nearly £3m. Our "profit" is based on revenue from player trading (Mariappa)and the fact that we appear to have paid nothing for the contracts of the players from Udinese. Normally they would have cost millions. "In the Pozzos we trust" is the new slogan of quite a few fans-- a good motto, because we have no choice.
I dread to think what he will have cost us in legal fees by the time this is finally put to bed. http://www.watfordobserver.co.uk/sport/10826927.Watford_s_legal_cases_contribute_to___500_000_bill/ The piece on the BBC website is actually quite favourable to the club, pointing out that Baz had been banned for three years. Pity the judge has to apply the law as he sees fit rather than see what everyone else can, the man is a crook. So the club still haven't handed over the Red Lion to him yet. Why doesn't he sue?
I think the club made a mistake in not calling Bassini as a witness--he would flounder under cross-examination and the judge would see that he was never acting in the best interests of the club. It was accepted in evidence that he set out to mislead the FL and that he was economical with the truth to his fellow directors--yet the judge put more weight on the "fact" that apparently he did not "personally gain" from the LNOC transaction. But surely he was taking personal financial benefit from the club for the whole period of his ownership, and the LNOC loan enabled him to prolong that ownership for his further benefit? And it is still not clear what the loan was spent on--it certainly was not spent on the SE corner, which Bassini pretended was its purpose.
I agree that on the face of it he should have been called and asked to explain certain matters, but we do not know what is going on behind the scenes. Could there be another case in hand against him to try and get some money back? Don't know. Why is the Red Lion saga still going on and no one will say what is happening there? Don't know on that one either. Could he have put the Russos in a position where they have a claim against the club? Seems unlikely, but just possible and there is the case between the salad boys and him still in progress. We all take him to be a fool and buffoon, but he did somehow manage to convince Ashcroft and Co that he could provide money from his own funds, whereas in fact he seems to have had very little.
Can you force people to attend civil cases? If he didn't turn up that could look worse than not calling him, and he wouldn't turn up.
Well the one thing we do know is that the money was lent to the company which ran the club, that must have been contractual even if no money entered the club's accounts. There was subsequently a sale of that company or company's assets to the current owners therefore in law they have taken over the responsibility of all liabilities. That is what I believe and why the rulling went that way. There is likely to be other cases behind the scene pending against Bassini for the recovery of that money but I suspect he is actually adept at ferreting the money away and will never be caught with it - he would go bankrupt again to protect it possibly. The club's defence would surely be that the football company did not agree the loan, rather a different company owned by Bassini and that the LNOC should be suing them as all monies filtered though there rather than the football company which the Pozzo's bought. Either way it's not justice.
I thought this was a joke until I checked it out. Frank Smith ‏@FrankSmith_Wat 7m Ex-#WatfordFC owner Laurence Bassini has threatened to sue the Watford Observer due to its regular use of this photo pic.twitter.com/tH9Z6Ai5UA
This whole thing makes me wonder if he needs help. The red hat is leading the poll with the bikini a close second. http://www.watfordobserver.co.uk/sport/10835983.What_is_your_favourite_Bassini_picture_/
I propose he offers to make himself available at the high street pond at a time to be mutually agreed and publicised in the Watford Observer with at least a weeks notice so that fans can make themselves available to pay homage to his masterful business acumen (It'd also give me time to get down there and build/install the stocks on an elevated platform and collect sufficient rotting meat and veg and fish entrails and buckets of cattle excrement to chuck) in order that we are able to take a new shot to be used in future publications. This post in no way refers to any official of Watford Football club past or present and any assumptions as to who this may be referring to are purely coincidental.
