Business

Watford accept takeover bid

April 1, 2011

138

20110401

A spokesman for investment bank Seymour Pierce has confirmed that businessman Laurence Bassini has agreed a deal to buy Watford.

Lord Ashcroft, former chairman Graham Simpson and his wife Yianna accepted Bassini’s offer on Friday evening.

Seymour Pierce are acting on behalf of Mr Bassini and have told Sky Sports News that his offer, worth ₤440,000, has now become ‘wholly unconditional’.

The offer to buy the club was not scheduled to close until 15th April but the deal agreed will put Bassini as a majority shareholder, along with knee surgeon Panos Thomas.

The agreement will see Bassini acquire at least 55.11% of the club through a newly formed company called Watford FC Limited.

Watford are pushing to gain promotion back to the Premier League and are currently four points from a play-off place in the Championship.

Malky Mackay’s men continue their bid for a top-six finish with a trip to Coventry on Saturday.

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