Pozzos seal Watford deal
Vicarage Road takeover completed
Last Updated: June 29, 2012 2:06pm
The takeover of Watford by the Pozzo family is complete
The Pozzo family have completed a takeover at Watford after agreeing a deal with current owner Laurence Bassini.
The Pozzo family, who already own Serie A club Udinese as well as Granada in Spain, expressed an interest in Watford earlier this month.
It was briefly thought that the deal had fallen through last week when Bassini was quoted as saying that the Pozzos could not provide proof of funds.
However, an official statement was later released to make it clear that a takeover was still on course, and the deal has now been finalised following further talks over the past few days.
Watford are believed to have been bought by a Special Purpose Vehicle, a new company set up to buy the club and controlled by the Pozzos.
Andrew Andronikou, partner at accountancy group UHY Hacker Young, which advised Watford on the sale, said: "The Pozzo family has a proven track record of both building successful teams on the field, and balancing the books off the field.
"This transaction is a significant one as it provides the Pozzo football dynasty with a secure platform to introduce its successful formula to the UK."
Prospective new owner Gino Pozzo has previously stated it is too early to discuss suggestions that he will look to appoint Gianfranco Zola as the club's manager.
Zola has been linked with a move to Vicarage Road in the Italian press since the Pozzos started discussions with Watford.
Sean Dyche guided the Hornets to 11th place in the Championship last season and the Pozzos will now hope they can push on and challenge for promotion.