How Laurence Bassini plans to make Watford sustainable
Laurence Bassini has explained how he plans to stop Watford losing money and make the club a sustainable business.
The Hornets owner this week conducted his first interview in three months with the Watford Observer and covered a range of subjects, including stadium redevelopment, the future of tenants Saracens and events during the January transfer window.
The Stanmore businessman also discussed, for the first time, how he plans to stop Watford losing around £4m a year and help make the club a sustainable business.
The development of the Red Lion pub and the numerous planned projects at Vicarage Road Stadium are key to his vision.
When asked how he intends to increase Watford’s income and make the club a profit-making business, Bassini replied: “I will build the South West corner which will have restaurants in it.
“I will build the East Stand, where there will be a medical centre, another 20 executive boxes, a sports centre and there will be a bigger club shop in the stand. We will also get revenue from the pub.”
Bassini answered a host of questions which were unanswered in his recent Q&A session on the club’s website.
He confirmed the money he has put into the club during his first year at Vicarage Road “is an investment from myself, there are no loans”.
One of the main concerns among Watford supporters has been where the club will find the £9.26m needed to repay the bondholders over the next four years.
But Bassini confirmed: “It is going to come from me; where it has been coming from for the last nine months.”
He stated he will be paying the next instalment, which is £1.5m, when it is due in a few week’s time which would reduce the amount owed to £7.76m.
Bassini took over Watford four years after he was made bankrupt and supporters have been concerned about where his money has come from, as there is very little known about his business background.
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The Stanmore businessman also discussed, for the first time, how he plans to stop Watford losing around £4m a year and help make the club a sustainable business. The development of the Red Lion pub and the numerous planned projects at Vicarage Road
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