football

Watford owner rejects £125m offer to sell third of club to New York-based media company


Watford owner Gino Pozzo has rejected a £125m offer to sell over a third of the club, according to The Times.

New-York based company, Prolific Media Holdings, made a bid to clinch a substantial share – which would have seen Pozzo still owning a majority stake.

 Watford owner Gino Pozzo has turned down a £125m offer to sell over a third of his shares in the Premier League club

Getty – Contributor

Watford owner Gino Pozzo has turned down a £125m offer to sell over a third of his shares in the Premier League club
 Javi Gracia's men have enjoyed a superb start to the season - winning all three of their Premier League games to date

Getty Images – Getty

Javi Gracia’s men have enjoyed a superb start to the season – winning all three of their Premier League games to date

However, the offer was turned down in the early stages of negotiations – with no sign a deal was close to progressing any further.

Pozzo has previously indicated an interest in selling just over a third of his shares.

That would have generated a enormous profit on the £500,000 he paid to purchase the club from Laurence Bassini in 2012, as well as committing £10m to clear existing debts.

Through their parent company, Hornets Investment Limited, Watford entered into a 60-day exclusive negotiating period with Prolific this summer – a period which recently expired.

 Pozzo, who bought the club six years ago for a mere £500,000, is well regarded by the Hornets faithful

PA:Press Association

Pozzo, who bought the club six years ago for a mere £500,000, is well regarded by the Hornets faithful

Under the terms of the provisional agreement, Pozzo would have remained in day-to-day charge of the club and stayed as chairman, with Prolific gaining the right to appoint an additional director to the club’s board.

However, this hasn’t come to fruition at this time – with the off-field developments certainly not impacting them on the field.

Javi Gracia’s men have won all three of their Premier League games to date – in what has been an explosive start to the season from the Hornets.

Next up they face Tottenham at Vicarage Road tomorrow, kick-off 4pm, as they look to extend their unbeaten run.

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