Birmingham on brink of £35m takeover as controversial ex-Watford chief Laurence Bassini claims to have struck deal
BIRMINGHAM CITY are on the brink of a £35million buy-out, with controversial former Watford owner Laurence Bassini claiming to have struck a deal for the Championship club.
Bassini, 52, says he has exchanged contracts on a deal to buy Blues with a takeover due within days.
A key part of his blueprint would be to secure full ownership in two years and includes bringing the club's St Andrew's home back to its former glories.
Bassini wants to push ahead with urgent upgrades of the lower tiers of the Kop and Tilton Road stands.
This isn't the first time the ex-Watford chief has tried to buy Birmingham, after he failed in an attempt to purchase Blues in 2021.
He renewed his interest towards the end of last season and has been secretly negotiating through intermediaries with the club’s Chinese owners since then.
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Bassini says he has no ambitions to become a director or chairman but as owner will appoint a board of ‘very experienced footballing people,’ to run the club on his behalf.
He also plans to upgrade the club's Wast Hills training base and push for the academy to quickly regain its Category One status.
Blues have been owned by Hong Kong-based parent company Birmingham Sports Holdings since October 2016.
However, fans alarmed by the club's slump in fortunes, have staged several high-profile protests to highlight the way they feel the club has been mismanaged by absent owners.
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Lee Bowyer's side have faced another tough season as the club continues to stagnate on and off the field.
Fans will be concerned by Bassini's previous football record.
He assumed control of Watford in May 2011 but his 13 months in charge at Vicarage Road was shrouded in financial controversy, before he sold the Hornets to Gino Pozzo.
In March 2013 an independent disciplinary commission found Bassini guilty of misconduct and dishonesty over financial dealings on behalf of Watford.
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He was subsequently banned from being involved in a position of authority with any Football League club for three years.
However, that has not diminished his desire to return to football after being previously linked with unsuccessful attempts to buy Bolton Wanderers, Oldham Athletic and Charlton Athletic.
The EFL will be keen to avoid further controversy with club ownership following the dire situation with Derby County's ongoing ownership saga.