EFL: Watford FC sanctioned with £4.3m in fines for use of forgery during the change of ownership

"The EFL charged Watford Football Club for a breach of Regulation 3.1 and 16.21 on the 19/06/2017 relating to the provision of a funding letter which had previously been confirmed as a forgery. The Club pleaded guilty to the charges and a Disciplinary Commission ordered it to pay a fine of £3,950,000 and costs of £350,000, meaning a total sanction of £4,300,000 (about €4.7m)," said the EFL on 24/08/2017.

The financing letter is one of the elements that a new owner must provide to the English professional football bodies (Premier League or EFL, depending on the division in which the club operates) to validate the majority ownership of a club. Watford FC played in the Sky Bet Championship in 2013-14, during which Gino Pozzo, through Hornets Investment Limited, became the sole owner of the club, succeeding his father.

"That sum was reduced from £5,750,000 (about €6.24m to recognise that the Club fully co-operated with an investigation and that all the financial commitments of the Club, for the period covered by the forged letter, were met in full," added the EFL.

"Watford Football Club…