Watford FC staff get on their bike for charity challenge - Watford Observer

Watford FC staff get on their bike for charity challenge - Watford Observer

Watford FC staff get on their bike for charity challenge

9:00am Sunday 17th June 2012 in News By Ben Endley

A team of Watford FC staff cycled through the night to complete a 66 mile challenge for charity.

The 19 brave individuals, who are all part of the club’s community sport & education trust team underwent a grueling 66-mile challenge around central London.

They managed to raise £7,000 for ‘Every Player Counts’ – the trust’s disability project which provides opportunities for children and young people with physical and learning disabilities.

The Nightrider Charity Event on Sunday 10th June 2012 saw 3,000 riders undertake a route which took them past many of London’s iconic landmarks including Tower Bridge, Piccadilly Circus, the Houses of Parliament.

To support the trust team, visit: http://uk.virginmoneygiving.com/CSETrustTeam.

Comment now! Register or sign in below.

Or

Source: www.watfordobserver.co.uk

Pressure mounts on Watford FC owner Laurence Bassini - Watford Observer

Pressure mounts on Watford FC owner Laurence Bassini

7:52pm Sunday 17th June 2012 in Sport By Frank Smith

Watford FC is in turmoil behind the scenes while while there are claims owner Laurence Bassini is coming under increasing pressure to sell the club, the Watford Observer understands.

There has been speculation the club's bond holders are attempting to force through the sale of the club with Udinese owner Giampaolo Pozzo rumoured to be the front runner.

Meanwhile, there are bitter divisions within the club itself and these came to a head last week when police were called to the ground following an incident relating to access to the club safe.

On Monday the Stanmore businessman went to Vicarage Road and requested the keys to the safe but it is understood a senior member of staff refused to release them.

The Hornets owner then suspended the employee and the police were called to remove the person from the premises.

Bassini confirmed: “I asked for my keys to the safe. It is my safe.

"The employee wouldn't give them to me. I suspended that person and had the employee escorted from the building by the police.”

While Bassini confirmed this incident had taken place, he rubbished suggestions HM Revenue and Customs is currently investigating the club for unpaid taxes and national insurance contributions.

After the Watford Observer went to press on Thursday evening Bassini said: “Utter nonsense. Where are you getting this? There is no truth, it is nonsense.”

HMRC has refused to confirm whether an investigation was taking place due to confidentiality reasons.

Bassini has split opinion among staff at Watford since his arrival in March 2011 and upset many when former chief executive Julian Winter and his deputy Michael Jones departed last summer.

Employees were upset further last month when their wages were not paid on the usual date and they were not informed of the delay until the day they expected to have the money in their accounts.

Bassini rejected the suggestion employees had been paid “late”, stating: “In the contracts, wages need to be paid around the end of the month. They were paid on the 30th.”

As for the immediate and long term future of Watford, sources have told us Bassini is under pressure to sell the club by its bondholders, who are Lord Ashcroft, former chairman Graham Simpson and director David Fransen.

Udinese owner Giampaolo Pozzo expressed his interest in taking over Watford in February and remains keen on the Hornets, it has been speculated.

However, Bassini claimed: “The bondholders cannot take the club from me. I own the club. It is all nonsense.

“There are four people that are bidding for the club. Everything is for sale at a price but I don’t want to sell.”

On Pozzo, he added: “That was back in February, not now. He is not interested now. He is looking at other things.”

The bondholders are still entitled to in excess of £7.5m and annual payments are due every March, as well as quarterly interest payments.

Bassini stated several weeks ago that he wanted to pay off the bondholders and the club’s £1m overdraft.

Until he pays off the money owed, he still needs to abide by certain covenants and events of default which were in the offer document from Bassini’s takeover last year.

In the 84-page offer document, it lists a number of covenants and events of default, which include a  number of points such as the termination of Graham Taylor or Stuart Timperley as a director, not paying within five business days indebtedness (excluding trade creditors) in excess of £100,000 and ceasing or threatening to cease to carry on its business.

The document states that if an event of default takes place then money owed can be declared immediately payable.

The bondholders can waive an event of default if they wish but should they decide to act, then Lord Ashcroft could enforce the ‘Issuer Security or the Guarantor Security’. This relates to security packages which were set up between Lord Ashcroft and the club as part of the initial bondholder agreement in 2010.

It states Watford Leisure Plc and Watford Association Football Club Limited “has charged to the Security Trustee (Lord Ashcroft) for the benefit of the Secured Parties all its property, assets and undertaking with the payment and discharge of all moneys and liabilities therein referred to.”

Comments(14)

bigthunder says...
8:00pm Sun 17 Jun 12

Well well well hate to say i told you so but when i said dark days ahead many weeks ago, now you will start to see what i mean't where are all you bas supporters now ,tony e.t.c !!! bigthunder

WFC4ever says...
8:21pm Sun 17 Jun 12

Usual battle of big egos... WFC4ever

QUINNPT says...
8:21pm Sun 17 Jun 12

WO why only tell half the story, why did Baz want to go to the safe, what was in there that he needed. Why was the employee suspended other than not taking your orders. Was he following company procedures eg two signatures needed for access or two senior staff to approve opening the safe?. As will all these things raises more questions than answers. But as one who has supported Baz, he does come out again rather poorly. Not good PR Baz. QUINNPT

mr vic a rage says...
8:25pm Sun 17 Jun 12

good to see the WO KEEPING UP with KEVIN AFFLECK on twitter. mr vic a rage

southernhornet says...
8:30pm Sun 17 Jun 12

The WFC senior staff have performed miracles this season, and i for one am grateful to them. How they have managed to "work" with this guy and do so well is absolutely beyond belief. well done to all of you southernhornet

QUINNPT says...
8:43pm Sun 17 Jun 12

I agree all staff there have done very well. The club need to come out with statement, not waffle, just the facts. If the club is being sold, then just say so. We understand if there are confidentiallity issues, however you can still give information to placate the some of the fans. QUINNPT

buckler says...
8:44pm Sun 17 Jun 12

It's my safe! What a pathetic Little man! Come on where are all the clappers who were rubbishing me in the week? Ill tell you where hiding and hopefully leaving the club like there idiot hero! Mafia running you out of town! Good riddance. buckler

mooneysmagic says...
9:01pm Sun 17 Jun 12

Looks like the club is going the same way as Bazzas other enterprises. mooneysmagic

southernhornet says...
9:17pm Sun 17 Jun 12

[quote][p][bold]mooneysmagic[/bold] wrote: Looks like the club is going the same way as Bazzas other enterprises.[/p][/quote]no it doesnt it looks like the club is being sold to someone else before it did go the same way as Baz's other enterprises. southernhornet

yellowarmy23 says...
9:25pm Sun 17 Jun 12

Bankrupt Bassini is at it again. How can he lie so much?! He's now saying Pozzo was interested in February but not now yet if I remember rightly he denied back then that Pozzo was interested at all... HE CAN NOT BE TRUSTED AND NEEDS TO GET OUT!!! yellowarmy23

buckler says...
9:31pm Sun 17 Jun 12

Dead man walking! buckler

aussihornet says...
9:33pm Sun 17 Jun 12

Wow talk about an interesting day of Watford going on's. The huge issue to come out of all of this.... Why did this important employee, who is on charge of the club safe, so adamant for LB NOT to gain access to the money in the safe. I think next step would be for this fired employee to come & tell us why he stood up to the owner to such a high stance, that the police were involved. Right Mr Observer, you have been slated by various sections of the public, yet I still enjoy your reading! FIND this employee as he has some issue of great importance. I think Baz should get 1m plus what ever he invested of his OWN MONEY...then leave, as it seems like the Mantle of Watford FC is trickier to run then he originally envisaged. aussihornet

Alfiesballs says...
10:45pm Sun 17 Jun 12

I asked about Pozzo from a Spanish (Catalan) contacts perspective, this is the answer I got...
"Son, Gino, is resident in Barcelona and, despite being a Barça fan, they were sniffing around Espanyol in the summer of 2010, but it came to nowt. They own Granada, sold Alexis Sánchez to Barcelona and have their fingers in many pies.

Pozzo, father, was mixed up in the game-fixing scandal in Italy and has now been banned from holding executive posts in Italy, though he does still own Udinense.

He has been with Udinense since 1986 and has scouted the world to pick-up underpaid talent, brought them to Italy and sold them on for profit. He is considered to be a very good owner and people in both Italy and Granada are happy with the support from him.

The father & son team do tread a very fine line, but they don't seem to be thought of as really moving in the deepest shadows of the football world.

Cheers,"
Interesting stuff

I asked about Pozzo from a Spanish (Catalan) contacts perspective, this is the answer I got... "Son, Gino, is resident in Barcelona and, despite being a Barça fan, they were sniffing around Espanyol in the summer of 2010, but it came to nowt. They own Granada, sold Alexis Sánchez to Barcelona and have their fingers in many pies. Pozzo, father, was mixed up in the game-fixing scandal in Italy and has now been banned from holding executive posts in Italy, though he does still own Udinense. He has been with Udinense since 1986 and has scouted the world to pick-up underpaid talent, brought them to Italy and sold them on for profit. He is considered to be a very good owner and people in both Italy and Granada are happy with the support from him. The father & son team do tread a very fine line, but they don't seem to be thought of as really moving in the deepest shadows of the football world. Cheers," Interesting stuff Alfiesballs

buckler says...
11:41pm Sun 17 Jun 12

Think I go to bed now happy knowing we have nearly seen that clown off! Good work lads, you know who you are! As for Bassinis bandits go with him! buckler

Comment now! Register or sign in below.

Or

Source: www.watfordobserver.co.uk