What the statement says is that he will be resigning as a director, not as owner. However this can only create even more uncertainty about what will happen as the remaining three directors are all non-executive.
According to that Watford Observer report is that Bassini resigned after Graham Taylor's comments....would not be surprised to see GT leave soon if that is the case and the fans to seriously start turning against Bassini
If I were a supporter of conspiracy theories I might think GT had had enough and threatened to resign himself - and that this was the only way Baz could retain him.
I just had to ckeck my diary. I thought winter, Christmas and valentines day had all passed my by, and it was April again.
I am glad that there is more than one theory, I was beginning to worry about what I had said in my letter. Seriously though there had to be some fall out from Tuesday night. Although GT is getting the headlines I thought that Timperley was far less guarded in his comments than I have ever heard him before.
This is now paving the way for the Russo to finally "take over the club" in the public eye!!!, and not behind the face of Bassini!!!!
Certainly is a confusing development... The assumption he is still the owner and nothing has changed there. Unless of course, this is paving the way for someone else to come in This could also be just to have less day-to-day involvement, and leaving it to people with more knowledge of the industry to make the decisions - maybe he realises he can trust the people we have in palce to make the right decisions he was simply out of his depth! or maybe... he really was ill, and it is more serious than anyone thought and he is not in a position to hold such a position at the moment!
My first post on this forum but have always been a regular viewer. As my name suggests the 80 refers to the year I first watched Watford and became hooked. I have become used to the many ups and down over the years. This latest episode is all a bit odd and on the surface would be appear to be a very child like response and is indicative of a man who acts impulsivley as GT inferred. Both Stuart Timperley and GT were quite openly critical of him at the forum which was suprising but it suggests that they are at the end of their tether. Maybe it was a "you go or we go" ultimatum. There is nothing that says the owner of a business has to be a director. The shareholders or owners have the responsibility to appoint directors to run the business and can sack them if they don't like the job they are doing. Lord Ashworth was never a director although he appointed a non-exec to look after his interests. However, the club no longer has any executive management as Bassini sacked JW. However, he can't legally take executive decisions regarding the club now as he is no longer a director. Maybe the next development will either be the board announcing that they will recruit/appoint a CEO or they will resign and Bassini will take full control and appoint some cronies. I seriously hope its the former. As far as his ownership is concerned he can't just take his money back and walk away. He would have to sell the club to someone else. He could refuse to add more funds but if that caused the club to go bust his shareholding would be worthless. The next few days could be very interesting. Hang on tight for the ride!
Good post Barrie. You're right, there is no reason an owner has to be on the board. Unless he has some sort of interest on the board though it doesn't make for a great proposition as the executive is, at best, disconnected from the owner. In this instance the executive seems opposed to the owner, who also purports to be the source of income. What does this mean. God only knows. It does demonstrate what sort of a man Bassini is though - it simply isn't a sensible move on his part. I think the board need to issue a statement here about what the implications are.
Bassini wanted to be a "hands on" owner--more than that, in sole charge. But he clearly has alienated his non-execs, and it seems they have told him so in no uncertain terms. Timperley was blunt in public at the Forum...."uncertainty...no leadership..."--so what did he say in private? If Basssini was not to lose his non-execs--and thus any remaining credibility he has with the fans-- he had to respond. However, this action does seem rather typically impulsive , and may pressage something even more dramatic. He certainly does seems to have manoeuvered himself into an uncomfortable place. If he is to stay as owner he must now appoint a professional CEO and leave the fellow to run the club properly, with a mandate and an agreed business plan (like Winter did for Lord A.) Did GT agree to stay only if Bassini left the board and brought in a proper CEO? We will have to wait for the memoirs--unless the WO starts to act like a newspaper and tells us the full story.
Let us hope that if Laurence Bassini is to leave, he has only said he will resign, and he is shown to be a frontman for somebody else thisperson show himself very soon. Also that the person can pursuade Julian Winter and David Frantsen to return or take a greater role in the club.
This all seems rather childish TBH...ok Bassini maybe didn't like want GT said but they are grown up and should able to settle their differences for the good of the club and fans? Maybe if Bassini is going to be so offended by a few little comments that probably 99% of people listening would have though then maybe running a football club under pressure isn't for him? Wouldn't it just be nice to have a club run by directors who can trust each other and bring confidence to the fans. All the off field issues will not help Dyche and co.
I am afraid it all comes down to money Mark.. Rookery Mike, and I don't know if he has more insight into the goings on behind the scenes than the rest of us, has today said that if you have ever paid to watch a game at the Vic. then you have put more of your own money into the club than LB has. Before Tuesday I had started to wonder if there was a lot of smoke and mirrors about the improvements around the ground. What I heard that night filled me with alarm, things are definitely wrong within. While all this is swirling around it cannot be good for the players or the manager. SD must know quite a lot more than he can say, and yet will no doubt have to say that it is nothing to do with him.
In one of his few interviews earlier in the year Bassini said that he had rejected offers for the club which would have made him a very reasonable profit because he was 'here for the long term'. I found it curious that anyone would choose to make an offer at that stage when the club were desperate for new investment for 2-3 years beforehand. If Basini was telling the truth about these offers and has had enough of trying to run a football club then surely he would sell up to one of these phantom bidders. If not he will have to batten down the hatches, sell enough players to pay 5 years of bond repayments and then sell a debt free club.
