Watford are target of takeover bid
Watford appear to be on the verge of a takeover after a group led by entrepreneur Laurence Bassini announced their intention to launch a £440,000 bid to the Stock Exchange this morning.
Watford FC Ltd, set up by surgeon Panos Thomas but owned by Bassini, have been linked with a move for the npower Championship club in recent months.
And they appear to be a step closer to taking over at Vicarage Road after the terms of their offer to the club's parent company, Watford Leisure PLC, were revealed.
Should the offer of 1p per share for the loss-making company become unconditional, it is believed that Bassini will provide £3.5million of working capital.
Watford had no comment to make at this stage of the process.
Latest in Sport
Commonwealth Games 2014: It ain’t London 2012, but Glasgow aims to go ‘with a roar’
Loic Remy to Liverpool: Striker undergoes medical in Boston ahead of £8.5m move
Manchester United transfer news: Arturo Vidal subject of £39m bid - reports
Liverpool transfer news: Javier Manquillo expected to join on two-year loan deal
Louis van Gaal gets tough with Manchester United players, with Darren Fletcher and Luke Shaw berated in public and Phil Jones left looking bemused
- 1 Malaysia Airlines MH17 crash: Pro-Russian rebel 'admits to shooting down plane'
- 2 Israel has discovered that it's no longer so easy to get away with murder in the age of social media
- 3 Israel-Gaza conflict: The myth of Hamas’s human shields
- 4 Amy Winehouse unpublished 2004 interview: ‘Ten years from now I’ll be 30, so I’ll maybe have one baby’
- 5 Dutch paedophile club to fight their ban at the European Court of Human Rights
Malaysia Airlines flight MH17 crash: 'Nine Britons, 23 Americans and 80 children' feared dead after Boeing passenger jet is 'shot down' near Ukraine-Russia border
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia