Watford’s Gino Pozzo Turns Down A Profit To Remain In Control Of Watford
The Watford FC owner, Gino Pozzo has been in control of the English Premier League club since 2012 when he bought a club that was heavily in debt and languishing in the bottom level of the English professional game. Gino Pozzo bought the club from former owner Laurence Bassini for less than $1 million in a move that gave the Pozzo family complete control of the club at a time when a new direction was needed. Pozzo believes he has achieved a great deal at the club and his new way of doing business in the soccer sector should be rewarded with new fans making their way to the hornets Vicarage Road Stadium.
For Gino Pozzo, the ability to become a fan favorite means he is consistently refusing to sell a club that is now stable in terms of finances and the direction the team is taking. When the Pozzo family took control of Watford, the club had failed to reach a stable position for a number of years and had slid down the English professional pyramid with little halting the decline. Gino Pozzo immediately went about putting right the problems he saw with the team by bringing new players to the club from his other interests of Udinese in Italy and F.C. Granada in Spain. The Granada investment was soon jettisoned as Gino Pozzo no longer had the time to handle the affairs of the club he had brought back from the edge of financial ruin.
A recent attempt to purchase a minority stake in Watford by an investment company was turned down by Gino Pozzo as he felt the deal would have diluted his ability to achieve what he hopes at Watford. The Hornets owner would have maintained a majority shareholding and turned a tidy profit but maintaining the success he has already seen at the club is vital to a long-term strategy for success.