Watford's potential takeover by the Pozzo family is now off, according to current owner Laurence Bassini.
The Championship club, confirmed earlier this week they had agreed a deal in principle to sell the club to the Pozzo family.
The Italians own Serie A side Udinese and Spanish team Granada and looked poised to take over at Vicarage Road, but Bassini said: "The deal is definitely off. They do not have the money. What can I do?"